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 saga continues as we continue to hear updates regarding a second round of stimulus checks going out to millions of Americans in need.
And we now have some more positive signs.
We just had a really good sign coming from the White House once again as Treasury Secretary Steven Mnuchin shed light on a second round of stimulus checks during a congressional hearing on Wednesday.
Mnuchin stated, “I think we’re going to seriously look at whether we want to do more direct money to stimulate the economy.”
He did not get into any specific details regarding the amount of the payments or the eligibility.
And it’s true, all he said is they are going to seriously look at it.
But with some lawmakers expressing doubts about these checks, it’s a positive sign to hear the White House still interested in entertaining them as a possibility
He did reiterate that the Trump administration is focused on implementing measures that will get people back to work.
That has been a focus by Republicans since negotiations were being discussed regarding an additional stimulus package.
He also stressed the need to provide a tailored approach.
“Whatever we do going forward needs to be much more targeted to the industries and small businesses that are having the most difficulty reopening as a result of Covid-19.”
Based on what we have heard from lawmakers, including Republicans in the Senate, it seems extremely likely that an additional round of stimulus funding will happen.
It does seem like it might take a little bit longer for that package to be finalized and we might not see an additional stimulus package passed until the end of next month.
That means that if more stimulus checks are a part of that package, they likely will not hit until August.
This is an interesting time because we are starting to see up-ticks in coronavirus cases in certain states and cities that have reopened. Some of these cases are significant and if they cannot be controlled or curtailed, it’s very possible that lockdown measures will have to be put back into place.
That would mean fewer individuals able to get to work and therefore a stronger need for more stimulus checks. Or at least that’s how I see it.
But like I have said before, right now nobody knows what will happen regarding more stimulus checks. I’ve seen articles stating that there is no chance that they will happen but I think it is too premature to come to that conclusion.
And now that officials in the White House are admitting to seriously looking into more checks, I don’t see how you can rule out the possibility.
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.