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With or without aCongress is already under pressure to pass another economic relief law before the end of July are set to expire. This deadline is of great importance to the more than 48 million Americans who have applied for new unemployment benefits in the past 16 weeks – especially if there are any .
“It is currently almost impossible to take a look at the economy and fail to see that unemployment insurance payments, the money spent in April, have helped people hold out,” said Lily Roberts, director of economic affairs Mobility at the non-partisan center for American progress, said CNET.
We looked through the Senate calendar and used the timeline for the first stimulus check as a model to find out how much time Congress needs to spendand stay on schedule, what happens if you miss this deadline and if the IRS sends its first check when it is approved. Read on to see what we discovered.
This story is often updated with new information. If you are still waiting for the first round of corona virus payments, you can do so, learn and find possible .
Stimulus check decision: why July 20 and August 7 are important
“As soon as the Senate comes back [from its current break]We will be bipartisan with the Republicans and Democrats, “Treasury Secretary Steven Mnuchin told CNBC on July 9, adding that it will be a priority for the next laws to be passed between July 20 and the end of the Monthly.
These are not just arbitrary dates: they are the days when the Senate meets between long breaks and the deadline is tight.
In this week: The Senate is currently in a scheduled hiatus that started on Friday, July 3, and runs until Friday, July 17. The Senate is expected to work again on Monday, July 20. Senate members and their staff are expected to use the break to collect data to work on a second package as the session continues.
July 20 to August 7: Senator McConnell said Monday his office has been working with Treasury Secretary Stephen Mnuchin for several weeks on a proposal. When the senators returned to work the week of July 20, McConnell said he would start discussing the proposal with Republican and Democratic members of the Senate.
This gives the Senate three working weeks to work out, debate, negotiate and adopt another stimulus package before its next break. This means that the Senate has 15 working days (excluding weekends) until August 7, the last day of its session.
What if the Senate fails to meet the August 7 deadline?
If the Senate does not adopt a new bailout before its August break – and Senate McConnell said the Senate will stop working after August 7 – here is the data with which it will continue until the end of summer and into the fall has to work into it.
August 10 to September 7: The Senate will take a break for its August break, which lasts until Labor Day (Monday, September 7th). There are 32 days from the last date of the Senate session (August 7) to the first day of the following session (September 8). The Senate will not work through the August break, McConnell said on June 30.
If the Senate starts a second stimulus package in July, a new bill to approve the checks would have to pass both chambers on or before Friday, August 7, to get through before the Senate’s August break.
September 8th to 25th: The Senate is in session again. If Congress does not complete the stimulus package at the beginning of the August break, it would have to resume in September.
September 30th to October 9th: After a two-day break on September 28 and 29, the Senate will meet until October 9. The presidential election is scheduled for November 3, and the Senate will work again on November 9.
When could the IRS send a second stimulus payment?
It is still possible that the IRS will send checks in August if the house and the Senate give a second round of stimulus checks by the end of July that give the green light.
For reference, the President signed the CARES law on March 27 and the first stimulus payments went out less than three weeks later, on April 15.
Let us assume, for speculative purposes, that a new economic law will come into force on Friday, August 7th. According to the timetable of the CARES law, the first controls could be carried out until August 26th.
However, it is plausible that the IRS could move even faster to send them outbecause the mechanism is there from the first batch, including a tool for people and .
Factors such as the number of people who would qualify for a payment the second time could help to slow down or speed up this period.
What is the last date I could get a second stimulus check?
Although we don’t know anything official – and only when another rescue package is official – we can use the experience of the first stimulus checks as a possible blueprint.
The IRS will have sent approximately 200 million checks by the time payments are distributed. (The total population in the U.S. is nearly 330 million people, according to the Census Bureau.)
In early June, the House Ways and Means Committee (PDF) estimated that up to 35 million Americans could still owe a payment.
The IRS has not answered CNET’s questions about how many checks are still to be sent today, but the agency has announced that it will continue to pay the final batches by the end of the year. If there isHowever, sending a second round of checks may not take that long.
If you haven’t received your money yet,. If you are concerned, you should have received your check and have not. .
What does it take to get a second stimulus check and what happens now?
The process of a second round of IRS payments seems to depend on two things:and if the lawmaker believes that paying direct to millions of people is the best way to go about that .
We are currently waiting for the Senate to return from its July break to start the next stimulus package. To get a second check, the proposed bailout package would have to pass both the house and the Senate before the president gets a signature. Only then could it take effect.
The IRS now has a system for organizing and distributing these checks. However, it may take weeks for you to receive a payment.
We will continue to update this story with new information as it arises. While the future of a second stimulus package is still undecided, we will share the available resources on itand , , and and how .