Fun

New Push for Second Stimulus Checks: Analysts Predict When Another Relief Package Will Pass

News Feed - 2020-11-16 11:11:26

New Push for Second Stimulus Checks: Analysts Predict When Another Relief Package Will Pass


Many Americans are in need of second stimulus checks and a new coronavirus relief package. As Congress resumes stimulus negotiations, President Trump has called for a “big and focused” stimulus bill now. Meanwhile, several analysts have predicted when lawmakers will pass the next stimulus package. Stimulus Package Status


Stimulus negotiations have resumed after the presidential election but lawmakers still have not been able to come to an agreement. This has left Americans with little hope of receiving their second stimulus checks to help them cope with the coronavirus-led economic crisis.


After the election, House Speaker Nancy Pelosi continued to push for her $2.2 trillion revised HEROES Act while the White House has reportedly stepped back from negotiations on a new stimulus package. Prior to the election, Treasury Secretary Steven Mnuchin discussed stimulus terms with Pelosi almost daily but the two could not come to an agreement. Now, it is up to Senate Majority Leader Mitch McConnell to revive talks with Pelosi.


President Donald Trump, who had promised “a tremendous stimulus package immediately after the election,” has been busy contesting the election results. Nonetheless, he tweeted Saturday: Congress must now do a covid relief bill. Needs Democrats support. Make it big and focused. Get it done.


Prior to the election, the White House and Pelosi have already agreed that the next stimulus package will include a second round of stimulus checks for Americans.


McConnell acknowledged on Thursday the need for another aid package but continued to reject the Democrat’s $2.2 trillion stimulus proposal. He has proposed a much smaller package of $500 billion which was blocked by Senate Democrats before the election. McConnell’s bill does not include the $1,200 direct payments to individuals.


Referring to Pelosi and Senate Minority Leader Chuck Schumer, McConnell said: “I gather she and the Democratic leader in the Senate still are looking at something dramatically larger. That’s not a place I think we’re willing to go.” He elaborated: But I do think there needs to be another package. Hopefully we can get past the impasse we’ve had now for four or five months and get serious about doing something that’s appropriate.


Nonetheless, McConnell insists that the next stimulus package should resemble his $500 billion stimulus proposal, emphasizing that the bill needs to be “highly targeted at what the residual problems are.”


Meanwhile, Joe Biden also discussed stimulus relief aid with Pelosi and Schumer on Thursday. The three agreed on the need for a stimulus package before the president-elect takes office on Jan. 20. According to a joint readout of the call between the three, they want to pass a bill “that provides resources to fight the Covid-19 pandemic, relief for working families and small businesses, support for state and local governments trying to keep frontline workers on the payroll, expanded unemployment insurance, and affordable health care for millions of families.”


Analysts’ Stimulus Predictions


As stimulus negotiations drag on, many people doubt that the next stimulus package will be approved before the year’s end. Many leading analysts are also divided on the matter.


JPMorgan Chase’s chief U.S. economist, Michael Feroli, wrote last week that “Something in the neighborhood of $1 trillion late in the first quarter is a reasonable expectation.” Morgan Stanley’s strategists also expect a stimulus package of a similar size in early 2021.


Goldman Sachs’ analysts are more optimistic, stating that even though the election results are still contested, lawmakers are likely to enact a $1 trillion stimulus package even before Biden’s inauguration in January. However, they believe that this stimulus package will have only a “small” positive impact on U.S. growth in 2021.


When do you think Americans will receive second stimulus checks? Let us know in the comments section below. 300 Banks in Germany Charge Negative Interest Rates Including Deutsche Bank, Commerzbank, ING NEWS | 10 hours ago Hash Watch: The Highly Anticipated Bitcoin Cash Fork Is Now Complete NEWS | 18 hours ago Tags in this story coronavirus aid, relief aid, second stimulus checks, stimulus check 2, stimulus check date, Stimulus Checks, stimulus trump, trump stimlus check 2, when stimulus check 2


Image Credits: Shutterstock, Pixabay, Wiki Commons Use Bitcoin and Bitcoin Cash to play online casino games here. Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Yashu Gola19 hours agoWorldcoin stuck after 70% drop from peak — More downside for WLD price?WLD price may get anchored to $2 until October, primarily due to its initial supply distribution.3956 Total views15 Total sha
Why are top Bitcoin traders bullish despite BTC price dip to $64.3K?
Marcel Pechman6 hours agoWhy are top Bitcoin traders bullish despite BTC price dip to $64.3K?Bitcoin whales and miners remain cautiously optimistic, strengthening the bullish case for $64,300 support.6595 Total views235
Former Fed Chair Alan Greenspan Says Decreasing Supply of Greenbacks Makes the US Dollar a ‘Better Store of Value’
Former Fed Chair Alan Greenspan Says Decreasing Supply of Greenbacks Makes the US Dollar a "Better Store of Value’ On Nov. 2, 2022, the American economist and 13th chairman of th
Zhiyuan Sun6 hours agoBitgetX joins HKVAC as it aims for exchange license in Hong KongThe Hong Kong Virtual Asset Consortium was established on May 31 to create indexes and rating services for cryptocurrencies.562 Total
Savannah Fortis13 hours agoTwitter to X rebrand sparks debate over new name for ‘tweets’Amid the new changes to the online social media platform now known as X, users have begun to debate on what to name the iconic p
Turner Wright3 hours agoOne less crypto-friendly candidate — Miami mayor ends US presidential runAlong with longshot Democratic hopeful Robert F. Kennedy Jr., Francis Suarez was one of the few openly crypto-friendly ca
Bitcoin Use on Darknet Markets Jumps 65% in First Quarter
Bitcoin Use on Darknet Markets Jumps 65% in First QuarterBitcoin transactions on darknet markets jumped 65% in value during the first quarter, according to research by a blockchain
Curve founder repays 93% of $10M bad debt stemming from liquidation
Zhiyuan Sun5 hours agoCurve founder repays 93% of $10M bad debt stemming from liquidationThe DeFi protocol"s native token plunged by 28% in a single day due to liquidations stemming from a hack attempt.739 Total views3 T
Gas DAO Project Forms to Airdrop Tokens to Ethereum Users That Spent $1,559 in Fees
Gas DAO Project Forms to Airdrop Tokens to Ethereum Users That Spent $1,559 in Fees A new type of airdrop has been very popular during the last quarter of 2021 as quickly assembled
Publicly Listed Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions ‘Restructuring’
Publicly Listed Bitcoin Miner Core Scientific Publishes Update After SEC Filing That Mentions "Restructuring" On Nov. 7, 2022, the bitcoin mining firm Core Scientific released the
Turner Wright2 hours agoTrader Joe’s grocery store files trademark lawsuit against Trader Joe DEXThe claims include allegations of federal trademark infringement and dilution, with Trader Joe allegedly capitalizing on
Prashant Jha13 hours agoSwiss crypto bank SEBA gets Hong Kong SFC licenseSEBA Bank began its quest for Hong Kong expansion in late 2022, setting up an office in November, with the firm obtaining an in-principle approval