The #1 reason we won’t see a stimulus package before 2021?

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. 

For a few weeks now, I’ve been talking about the importance of the upcoming elections in Georgia.

If you’re not aware, there is a runoff for Senate seats in Georgia that is scheduled to take place on January 5, 2021.

The two Democrats running for election include Warnock and Ossoff. While the two Republicans include Loeffler and Perdue.

This is a huge race with enormous consequences for the next few years and especially for the upcoming stimulus package that we all expect to eventually be passed.

If Democrats take both seats then they will have a majority in the Senate which will completely alter the scope of the next stimulus deal.

It’s very possible that if they take control, we are looking at a package valued at around $3 trillion that will come out.

Recent polls indicate that the race is going to be pretty close between the Senators.

Some experts are concerned that Republicans are shooting themselves in the foot by focusing on the election fraud instead of winning this Senate runoff.

David Perdue and Kelly Loeffler have both called on Republican Secretary of State Brad Raffensperger to resign.

And those type of accusations are weakening the party from within.

“We could be handing [Senate Minority Leader] Chuck Schumer control of the Senate by the Republican disarray,” conservative talk show host Erick Erickson said.

“It’s a little bit frustrating to see the Republicans squabbling with each other over this when frankly there’s no sign that the election was stolen in Georgia.”

History would indicate that the party losing the presidential election will have the stronger turn out in the runoff.

Since Democrats would have to win both seats in the Senate, it would seem like Republicans have the odds in their favor.

But with the shift in mail-in votes and some of this in-fighting taking place, it could change the outcome of who turns out to vote.

The other side to this is that lawmakers feel that the leadership is focusing on the elections in Georgia as the top priority and not getting a stimulus package done.

“My concern is that we’re getting pushback from leadership saying that the elections in Georgia is their top priority, not getting a COVID package done,” Rep. Tom Reed (R-NY) said in a call with reporters on Wednesday.

“That is just in my opinion downright disappointing. Their priorities should be the American people, who are suffering, who need a stimulus package.”

Because the implications of this election are so high, it’s starting to look like lawmakers may not be serious about attempts to pass a deal before the end of the new year.

That’s really not a shock but it does contradict most of the statements that we have heard from top lawmakers from both sides of the aisle.

So it’s very possible that we won’t see another stimulus deal before the new year due to this run-off.


Stimulus talks might get somewhere with fresh face in the mix

Biden secretly pushing for smaller stimulus deal?

Huge push by economists to get Congress to pass more stimulus checks

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.

Leave a Reply

Your email address will not be published. Required fields are marked *