Lawmakers are looking for means to issue a second round of stimulus checks amid health and financial problems
Citizens in the United States may get a second relief package as Senate Majority Leader Mitch McConnell stated that he will be expecting the arrival of a new stimulus package when Congress begins their next session from July 20th.
However, even if it becomes a proper bill, it won’t be taking effect until late August as any new bill will face severe pushback from opposing political parties. But if it goes through, it can be really helpful for millions of Americans who are struggling financially during this period of crisis.
Rise in poverty
Stimulus checks have faced rejection in the past by the Senate as it’s being led by Republicans and it’s their job to oppose anything issued by Democrats. But McConnell gave a hint that many families have been affected and hence there is a chance that they will face less opposition this time.
McConnell stated that people who make $40,000 a year or less are the ones who have been hit the hardest and many work in hospitality and healthcare. He didn’t specify the amount that these checks will cover. As COVID-19 cases keep increasing, and the Trump administration hadn’t done much, this can be their way to secure enough votes for the November elections.
Whether the bill gets passed or not, Americans will still be facing harsh times as long as the pandemic continues. Congress will be holding its next session from July 20th to August 7th before going to recess. Congress will be closely observed by every financial market to see if they can pass a bill in this short time.
(Cover: 1st United Credit Union)