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Now that it is pretty clear that no stimulus checks will be going out prior to the upcoming election, the big question is what is the next major deadline?
We know that Senate Majority Leader Mitch McConnell adjourned the Senate until November 9 so the next likely timeframe that we might see stimulus talks pick up would be November 9.
The second deadline to keep in mind is December 11 which is the deadline to pass the next federal budget. Congress will have to approve another spending bill by December 11 in order to avoid a government shut down.
If talks were to pick up on November 9 and a deal could be hammered out within a week or two, that would put the arrival of stimulus checks at the end of November or beginning of December.
If lawmakers were not able to come to agreement until December 11, that would most likely put more stimulus checks arriving at the beginning of the new year.
Both of these deadlines may potentially come in a lame duck session if President Trump does not win the election.
If the Democrats were set to take control of the Senate after the elections as well, then I do not think anything will get done during this time frame.
One possibility is that because the Democrats would have better numbers needed to pass their stimulus package, they might be more open to passing standalone legislation.
These would be individual bills for things like stimulus checks or unemployment benefits.
Given their strong preference for only passing a comprehensive package, I am pretty doubtful about this approach but it could be possible that they would try to get some type of aid out as soon as possible and then wait until after inauguration to “finish the job.”
I believe they preferred a comprehensive package largely because they viewed it as a negotiating tactic for leverage and that leverage may not be necessary if they have better numbers in the Senate.
In the event of a Trump victory, I could see a stimulus package coming out soon after the election.
It likely will not contain all of the bells and whistles that Democrats would like but it would include key provisions related to unemployment benefits and more stimulus checks.
So after this upcoming election mark your calendars for November 9 because the weeks following that are going to be critical for passing another package.
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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.