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We are currently awaiting updates from the US Senate regarding passage of the HEROES Act. This is the potential final round of stimulus funding that could contain one more round of stimulus checks (which includes a much broader eligibility pool).
As expected, Republican lawmakers are beginning to voice skepticism regarding another round of stimulus checks going out to the public.
According to The Hill,
Senate Republicans on Tuesday said they are more focused on reforming the Small Business Administration’s Paycheck Protection Program, providing more money for cash-strapped state and local governments, boosting benefits for Social Security recipients and fixing other elements of COVID-19 relief bills passed earlier this year.
Sen. James Lankford (R-Okla.), a member of the Senate Finance Committee, emphasized that the situation has now changed with respect to a need for more stimulus checks.
Referring to late March he stated, “Most folks are very grateful for the help at that point, but I don’t think we should set up a situation where we’re doing a check month after month after month.”
Sen. Mitt Romney (R-Utah) even flat out stated the prospect of another round of stimulus checks is “unlikely.”
Instead, he reiterated that Congress will be looking at unemployment benefits and aid to states and cities and towns.
“And I think it’s important for us to consider how we’re going to pay for all this and specifically how we’re going to deal with the structural deficit we have that adds a trillion to the debt every year. I hope that’s part of the next package,” he stated.
Sen. Christopher Coons (D-Del.) expressed doubts stating that, “[m]y concern is that it’s not focused in a way that is designed to help create or help sustain jobs, to deal with rental housing or education.”
According to The Hill, “GOP senators say no one in their conference is championing the idea of another round of rebate checks at the moment.”
It seems like Republicans are not closed off to the possibility of any type of aid, though.
While admitting “I’m not enthused about another round of rebate checks,” Sen. Lindsey Graham (R-S.C.), said, “[a] payment to Social Security recipients who are on fixed income of $50,000 and below might make sense.”
There’s still has not been a vote scheduled for before July 4. Instead, Republican lawmakers are focusing on other pieces of law which include the National Defense Authorization Act and the Great American Outdoors Act.
It was fully expected for Republicans to not be on board with more stimulus funding.
But even with this opposition expressed, there still is a possibility of more checks going out.
It’s just going to be a matter of how the debates go over the next few weeks. Right now, it doesn’t even seem like the debates are really happening on a higher level because lawmakers are so focused on other areas.
Also, given all of the turmoil going on in this country after the tragic George Floyd death, stimulus checks have not been at the top of everyone’s priority list in Washington DC.
H/T: The Hill
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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.