Second stimulus check before Christmas? This is the last date a bill would need to pass


Loading...

House and Senate legislators will have just a handful of scheduled days to wrap up the year’s business once both chambers reconvene from their Thanksgiving break on Nov. 30 — and that to-do list also includes approving a new federal budget. As tens of millions face a loss of federal benefits before the end of the year, it’s still unknown whether Congress will step up, reach a bipartisan agreement and pass another rescue bill this year in time to send a second round of stimulus money before that happens.

The potential good news: If approved in the next few weeks, the IRS could theoretically begin sending out payments to those who qualify in time for the holidays (some may not qualify at all). You also may be able to receive your second stimulus payment sooner than the first, if you had to wait. If a second stimulus check is left out of the bill, however, here’s what could happen.

See our chart below for some possible timelines for a second stimulus check — and here are the main facts about direct payments that you should know. We regularly update this story.

When’s the soonest a second stimulus check could go out?

These speculative dates show you when you might see a payment — if a bill becomes law before or after Inauguration Day on Jan. 20.

Loading...

One important note about the speed at which the first checks might arrive: In August, Treasury Secretary Steven Mnuchin said it would take about a week to process the first payments. “I can get out 50 million payments really quickly. A lot of it into people’s direct accounts,” he said. If a check doesn’t arrive until 2021, there will be a new Treasury secretary — President-elect Joe Biden has selected Janet Yellen, the previous chair of the US Federal Reserve, though she would need to be confirmed by the Senate.

Even if the checks were to go out faster the second time by using the existing IRS protocol from the first check to deliver a second payment, that doesn’t necessarily mean your stimulus money would arrive a week after a bill went live…Read more>>

Source:-cnet

Loading...

Register Form

Name
Email Address
Phone No