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Yesterday, President elect Joe Biden began to discuss his framework for the next round of coronavirus relief.
While we don’t know the exact details as of yet, we know that he is planning for a multi trillion dollar package that will include more stimulus checks.
It’s very likely that he will push for stimulus checks in the amount of $2,000 or at least $1,400.
And now that the Democrats have the majority in both the House and the Senate the path to getting such a deal passed should be easier.
However, it still is no guarantee.
For example, we heard immediate opposition from moderate Democrat Sen. Joe Manchin.
“I don’t know where in the hell $2,000 came from. I swear to God I don’t,” he said.
“That’s another $400 billion dollars.”
He also stated that he would “absolutely not” support a large stimulus check for Americans.
This surprised a lot of people because support from moderate Democrats is vital due to the slim majority that Democrats have. If the moderates are not on board, the task of successfully pushing out another bill becomes extremely difficult.
Interestingly, a spokesperson for Manchin seemed to walk back his position a bit stating that, Manchin “isn’t drawing a red line against” $2,000 checks, but simply “believes vaccine distribution should be a higher priority.”
He also later tweeted out a more open ended statement about his position on stimulus checks.
“If the next round of stimulus checks goes out they should be targeted to those who need it.”
This statement shows that while Democrats are certainly in a better position now to pass relief bills, there still may be some internal resistance within the party that could slow or halt things.
A third round of stimulus checks may not be guaranteed.
So that will be something to look out for.
We’re expected to see the Biden proposal late next week and we should have a good idea of all of the contents as well as the budget.
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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.