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There was a lot of talk by lawmakers about coming to an agreement for the next round of stimulus funding by the end of this past business week on Friday.
Unfortunately, this deadline came and went yesterday with no agreement in sight.
It seems that between the White House, Democrats, and Republicans, there is more disagreement than many anticipated.
The last meeting, which was supposed to be the meeting that ended with an agreement, instead only ended up as a “disappointing meeting” according to Senate Democrat Chuck Schumer.
Schumer urged the White House to “negotiate with Democrats and meet us in the middle. Don’t say it’s your way or no way.”
Both the House and Senate have left Washington and members have been instructed to be ready to return for a vote.
But based on statements from those involved directly in the negotiations, it is looking like there is no guarantee of an agreement coming soon.
Some have even speculated that these debates could stretch all the way into September.
President Trump has claimed that he will issue executive orders related to the recovery of the economy if Congress cannot make an agreement happen within the next few days.
There is some controversy over whether or not the president has the power to issue certain orders and reportedly his power will come from declaring some type of economic emergency.
If he were to issue executive orders those would go to issues like home evictions, student loan debt, and state unemployment insurance programs.
As far as I know, the president does not have the authority to issue an executive order to authorize more stimulus checks.
White House Chief of Staff Mark Meadows said, “This is not a perfect answer — we’ll be the first ones to say that — but it is all that we can do, and all the president can do within the confines of his executive power.”
The key areas of disagreement revolve around the $600 per week unemployment boost and the demands for state and local governments from Democrats.
According to those involved in the negotiations, if these issues could be resolved, the entire stimulus package would be able to get through.
We are now in uncharted territory and it is really difficult to estimate when the next package will pass since lawmakers have now officially missed their deadline.
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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.