The $600 direct payments to Americans are already going out to individuals all across the country who have set up direct deposit.
These payments will continue to go out for several weeks and while many people will be happy to receive them, we know that most Americans feel like they are not enough.
Instead, most people in this country feel like they are in need of larger stimulus checks of $1,000 or higher.
So what will need to happen for us to see a third round of stimulus checks?
There is one route that would require two things to happen which could very well occur in the next few weeks.
First, the Georgia runoff election would need to result in two Democrats winning.
This would cause a tie in the Senate which would be broken by the vice president, who is currently expected to be vice President Elect Kamala Harris.
A Democrat ran White House along with a Democrat controlled Senate and House would almost certainly result in an additional stimulus bill with large amounts of aid for local and state governments and more aid for Americans.
Since $600 checks are already going out, I’m not sure what the target amount would be for lawmakers but I am sure they would be working on a proposal for more aid.
The second thing that would need to happen is Joe Biden is sworn in on January 20 and he sticks to his talk about relief.
He’s already mentioned that the $600 stimulus checks are merely a down payment and that there is more to come.
If he was telling the truth then there is no reason to expect him to backtrack, especially if the Senate flips.
If Democrats do take over the Senate then a new deal could be pushed pretty quickly after Biden takes office. It wouldn’t surprise me to see a deal hammered out by early February in that case.
If Republicans maintain control of the Senate then it is less clear what would happen. Based on what we have seen so far, I think it is very likely that a hard battle would ensue for more relief.
I could still see another stimulus bill getting done but I would be doubtful about it being very big and I do not think it would likely contain more checks.
Based on the blocked votes that we have seen take place in the Senate, the above path seems to be the most reasonable path to seeing more stimulus checks.
So tomorrow (the day of the run-offs) is going to be a huge day in terms of what we can expect to happen in the future with stimulus relief.
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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.