Americans could get $1,200 stimulus checks by the end of August if Congress agrees to a deal by TOMORROW
THE NEXT round of stimulus checks may be mailed in August if a deal is reached in Congress by Friday.
While talks of details in the next coronavirus relief package seem to be standing still, Americans could see the first bunch of stimulus checks in the new package mailed by the end of this month if an agreement is made this week.
Chad Hooper, national president of the Professional Managers Association, which counts IRS managers among its members, told CNBC on Tuesday that the Friday deadline is key to getting checks out this month.
“The infrastructure is already in place to administer such a payment,” he told the outlet.
Both parties are on board of sending eligible Americans another $1,200 check, the rest of their stimulus plans dilemma has to do with unemployment benefits.
Since last week, Democrats and Speaker of the House Nancy Pelosi refused to back down over the amount of unemployment relief on offer.
"I think that the number, the $600, is related more to the unemployment rate. If the unemployment goes down, then that number can go down," she told CNN last weekend.
On Monday, Treasury Secretary Steven Mnuchin said that the Trump Administration was willing to put "more money" on the table for negotiations.
Mnuchin previously expressed wanting to get the checks out as fast as possible for Americans.
However, on Wednesday, the New York Post reported that Pelosi and Senate Minority Leader Chuck Schumer did not agree with Mnuchin during a phone call.
According to a statement regarding the call, the Democratic party has compromised by telling the Administration they will "come down $1 trillion if they will come up $1 trillion."
"However, it is clear that the Administration still does not grasp the magnitude of the problems that American families are facing."
Mnuchin reportedly made it clear that The White House "is not budging."
Many members of Congress have returned to their home states as talks seem to still be on hold, making an agreement this week unlikely.
If a decision is not made this week, CNET predicted that the checks will be sent out by September 2nd if the deal is reached by Friday, August 21st.
If passed on August 24th, Americans might see the checks in the mail the week of September 14th.
Source: Read Full Article