Second Stimulus Check Possible to Come Out Before Election

By M.G. Alison. Sep 25 2020, 06:55 AM EDT

A second stimulus check could still be possible to arrive before the November 3 election.

This optimism is fueled by a COVID-19 stimulus framework dubbed as the "March to Common Ground" issued by 25 Democrats and 25 Republicans who call themselves the Problem Solvers Caucus.

If this framework works as it is aimed to, not only will there be a second stimulus check before the elections but possibly even a third right after the elections.

Treasury Secretary Steven Mnuchin has always said that as soon as a second COVID-19 relief aid legislation is passed and approved by the President, he can send out the second stimulus checks within the week of the approval.

This means that should a bill be passed on October 5 and approved on October 7, the internal Revenue Service (IRS) could start sending the first of the second stimulus checks by October 12.

With Republican and Democrat leadership deadlocked on how much should be spent on a second COVID-19 relief aid, their respective members are working on a framework that would help address the issues surrounding the passing of a bill for a new relief aid package.

The framework came up with a package seeking to address key areas of need such as unemployment assistance to direct assistance for individuals and families. It means that aside from second stimulus checks, additional jobless payments will also be mulled.

The March to Common Ground package also seeks to address testing and healthcare, school and childcare, as well as aid to states and localities.

The framework's package has a six-month span and has a system of boosters and reducers that would increase or decrease relief depending on the severity of the COVID-19 pandemic. Such as activating a third stimulus check by March if the COVID-19 is still not managed.

Funding for the framework could range from $1.5 to $2 trillion, which is middle ground for both parties' proposals. The Democrats HEROES Act is $3 trillion while the Republicans HEALS Act is $1 trillion.

The framework's package could be plausible because President Donald Trump had already expressed his support for a higher stimulus package than that of the Republicans.

This package, however, was not made to be approved by Congress. It was created by the Problem Solvers to make their leaders meet and find middle ground to further negotiations.

House Speaker Nancy Pelosi, who has been adamant on sticking with their budget, has said that she plans to keep the House in session until both parties can reached a deal for a new COVID-19 stimulus package before the election.

With provisions of the CARES Act having dried up with weekly $600 unemployment federal aid ending in July and the additional $300 unemployment checks created by an executive order about to end, the March to Common Ground COVID stimulus framework is something that gives hope amidst the economic crisis brought about by the pandemic.