Updated: Nov 3, 2020
Recently, many of us have been asking as to whether we are going to receive the second stimulus package. We’re still not sure if we will receive it. The delay of the second stimulus package may have been due to the fact that the White House, Senate, and the House of Representatives couldn’t agree on the terms of the bill for the stimulus package. Now, it seems that the House of Representatives and White House has found some common ground. That may be different for the Senate. Both the House and the White House have agreed to pass a stand-alone bill for another round of $1,200 checks.
This would help those who are unemployed, struggling to make ends meet. There is no doubt that this financial crisis needs solving soon. But will our government step up and lend a helping hand to its people in the greatest time of need? Only time will tell if both sides of Congress and the President can agree upon reasonable terms for the stimulus bill. Our situation requires proper planning and action. This second stimulus package may be the action that Americans need.
Stay tuned to this blog to provide updates on the stimulus checks and contact Lakeesha Browne, CPA to ask any questions concerning your personal finances or tax needs.
Sources: Brown, Colby, Carson, and Rayome. “Stimulus package showdown: As Senate makes a stand, Pelosi demands deadline to finish a deal.” CNET, 18 Oct. 2020, www.cnet.com/personal-finance/stimulus-package-negotiations-senates-monday-vote-could-signal-a-sharp-divide-from-trump/. Accessed 18 Oct. 2020.
“Stimulus Package Update: As Unemployment Claims Climb, Have Both Sides Found Common Ground?” CBS Minnesota, 17 Oct. 2020, minnesota.cbslocal.com/2020/10/17/stimulus-package-update-negotiations-unemployment-claims-economy-covid/. Accessed 18 Oct. 2020.
Zara, Christopher. “Second stimulus package update: Here’s the latest news as negotiations continue.” FAST COMPANY, 2 Oct. 2020, www.fastcompany.com/90559902/second-stimulus-package-update-heres-the-latest-news-as-negotiations-continue. Accessed 18 Oct. 2020.