Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers.
The negotiations and talks for another round of stimulus funding are beginning to heat up as the Senate gets ready to return to action next week. So far, there has been a good degree of back and forth when it comes to whether or not an additional round of stimulus checks will come out.
Initially, there was a lot of excitement but that excitement was diminished when we heard the White House and other Republicans express a lack of interest in more stimulus checks.
But after the Democrats came with their revised proposal for one more round of checks, it seems like Republicans and the White House have gotten more on board.
Well, it looks like the next round of stimulus funding could be the last according to Senate Majority Leader Mitch McConnell.
“We’re taking a careful look at a fourth and final bill,” the Republican said.
“You could anticipate the decision being made on whether to go forward in about a month. And it will be narrowly crafted, designed to help us where we are a month from now, not where we were three months ago.”
This seems well in line with some of the news that we have heard over the past couple of weeks. Republicans are in no rush to pass another stimulus package although they are interested in passing one.
I think the idea is to wait long enough for things to develop a little bit further and then devise a package that will address needs until the end of the pandemic.
In an ideal scenario, this approach makes sense.
Ideally, the pandemic will slow down over the summer and be under control by the fall and then go away for all intents and purposes shortly after that.
But I still think it’s too early to guarantee that this will be the final bill.
Nobody knows what is going to happen at this stage.
Yes, it looks like things are getting under control to a large degree and businesses are starting to reopen which are all great things.
But we still don’t know what is going to happen with this virus come the fall or winter.
We could see another surge of cases that could shut down the economy to a large degree once again.
But what I believe is even more likely is that we could see long lasting economic effects.
Our economy has lost a lot of productivity over the past couple of months and I feel like the effects of that lost productivity can take some time to truly feel.
I’m not sure that anybody should be trying to guarantee one final package for something that could continue to persist for another year.
There are just too many unknown variables.
Still, at least another package is all but confirmed at this point and based on other information we have seen, a second round of stimulus checks is a very likely possibility.
Related: Calculate your next stimulus check.
UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. Since 2014, his content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.