House Democrats are presenting a new $2.2 trillion stimulus package, including direct payments, government and local aid, and $25 billion for airlines. @ylanmui reports. t.co/1PV900PU1H pic.twitter.com/B9slVSbfS8 JPMorgan Chase chief economist Michael Feroli wrote last week: „Something close to a trillion dollars at the end of the first quarter is a reasonable expectation.“ Morgan Stanley strategists also expect a similar stimulus package in early 2021. Before the election, the White House and Pelosi have already agreed that the next stimulus package will include a second round of stimulus packages for Americans. If the Senate passes the bill for a second economic review before the end of September, the House of Representatives will have until October 1 to reach an agreement and the Speaker could sign it as early as October 2. Once this chain of command passes through everyone, the IRS will be able to send the second round of payment of the week of October 12, according to U.S. Treasury Secretary Steven Mnuchin. President Donald Trump, who promised a „huge stimulus package“ right after the election, was busy challenging the election results. However, he tweeted on Saturday: Kudlow says the new stimulus package is too big: „The other team wants a huge package and we don`t think we need it.“ He again suggested that V-shaped recovery did not depend on a stimulus. Meanwhile, Pelosi and Mnuchin spoke today for 50 minutes, weds will talk again. t.co/CFZfWiEHtj hopes of a breakthrough in the deadlock between Democrats and Republicans to pass a new plan to revive coronavirus through Congress before the political focus shifts completely to the November presidential election, House of Representatives spokeswoman Nancy Pelosi continued talks Tuesday with Finance Minister Steve Mnuchin, with discussions continuing Wednesday after the presidential debate. But McConnell insists the next stimulus package should be similar to his $500 billion stimulus package and stresses that the legislation needs to be „very focused on the remaining issues.“ A stimulus package will be finalized by January 20: an agreement will be reached and the current House of Representatives and the Senate will vote before the new Congress meets in January. If Trump were to implement the bailout law, economic controls and other aid would likely expire in the coming weeks, with some groups receiving financial assistance before the end of 2020.
The $908 billion „framework“ put in place by a group of Democratic and Republican senators is the most promising in terms of multiparty support. By bridging the gap between the price tag and funding, this proposal would fund hot button themes such as four months of additional unemployment benefits for $300 per week; tradable loans to small businesses, vaccine delivery and more — but not a second stimulus check. The Democrats` bill in the House of Representatives also included another $1,200 stimulus package, small business funds, additional unemployment insurance, more money for U.S. postal services to deal with an unprecedented amount of missed elections, and a one-year suspension of the $10,000 cap on Republican tax law for state withdrawal and local taxes. On Tuesday, three proposals for stimulus plans to achieve some degree of economic facilitation by the end of 2020 were presented.