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We have now officially passed the timeline where it would be reasonable to believe that another round of stimulus checks could arrive before the election.
Although many people including myself believe that deadline had already passed about a week ago, it seems that officials and members of the media are now stating that it is “official official.”
As we accept this fact, we’ve heard more comments from House Speaker Pelosi that give us a better picture of what is really going on at this point.
As to the target dates for negotiations, it looks like the idea is to just have an agreement that could be worked out over the span of several days.
“It isn’t that this day was a day that we would have a deal, today was a day where we would have our terms on the table to be able to go the next step,” Pelosi said in a Tuesday interview with Bloomberg TV.
“I’m a legislator, they’re not necessarily legislators, so I’m trying to impress upon them: if we want to have this by Election Day and I think we can, we have to engineer back from there to this week,” Pelosi said.
So the goal quickly changed from getting stimulus aid to Americans before the election to just getting an agreement made for the election.
There were clearly reports that lawmakers were aiming to get stimulus relief to Americans before the election and it’s not clear when that changed to just wanting an agreement before the election.
It could be the politicians moving the goalposts or it could also be the sources and media involved distorting the message.
Either way, we now know that lawmakers are now just trying to find terms that they agree to as soon as possible.
When it comes to the progress of negotiations it still seems like the deal is caught in a bit of a limbo.
Apparently Steve Mnuchin is offering a $1.88 trillion package but Pelosi is still fixated on a $2.2 trillion price tag.
The protracted negotiations have made a lot of people question whether or not these individuals are serious about getting something done.
Many people have speculated that some of these stimulus talks and negotiations are only taking place to assure the public that lawmakers are attempting to get things done.
For example, we know that the skinny stimulus package has virtually no chance of passing and becoming law so why is this “symbolic bill” getting pushed?
Pelosi refuted this idea.
“As the secretary and I say to each other, if we didn’t believe we could get this done, why would we even be talking to each other?” Pelosi said.
I do think there are grounds to question whether or not Pelosi really wants a package to get passed prior to the election based on her negotiating tactics and also some of her prior statements.
However, I really hope that she is sincere about wanting to get something done before the election.
That’s because if we don’t see an agreement finalized before November 3, there is a high likelihood that no stimulus deal will be finalized during the lame duck session.
In that scenario, it’s not unreasonable to think that we wouldn’t see anything down until February or March which is way too long for struggling Americans.
There are also some high-ranking experts out there who have predicted that waiting that long for a stimulus package could have serious, long-lasting impact on the economy.
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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.