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Will IRS send out a new stimulus check before December 31?

Will IRS send out a new stimulus check before December 31?

The possibility of a new stimulus check is increasingly distant.

Photo: Jeff Fusco / . / .

The good news is that there are discussions about a new economic aid plan to face the coronavirus pandemic in the United States, but the bad news is that it would not include the $ 1,200 dollars directly to each American.

Another good news is that the plans include a bonus to unemployment insurance, at least $ 300.

Some reports indicate that the decision must be made before December 12, since the House of Representatives would go out of rest and return in January.

However, the Senate could extend sessions until December 18, but most economists believe the negotiations could, as has happened in the last five months, stall again.

The two new stimulus proposals being analyzed are from a bipartisan group of legislators that contemplates $ 900,000 million and a plan $ 500,000 million promoted by the Senate Majority Leader, Mitch McConnell (Kentucky).

Wall Street analysts say there’s a higher chance of a deal this monthaccording to data from Heights Securities, which set the odds at 75%, down from 50% before the previous round of talks.

The bipartisan plan increases support, including from the president-elect Joe biden, but it would be a disappointment for those expecting direct money in their accounts or receiving a check.

The Democratic Senator Joe manchin (West Virginia) said the plan would allocate $ 288 billion to update the Small Business Paycheck Protection Program, as well as $ 180 billion in unemployment assistance.

The programs to help the unemployment plan expire on December 26 and members of both parties in Congress make paying funds a priority.

Although the Speaker of the House of Representatives, Nancy pelosi (California) and the leader of the Senate Democrats, Charles schumer (New York), support integrating direct aid to families in the new bipartisan plan, that would be complicated, because the original project does not contemplate the direct shipment of $ 1,200 dollars.

Experts point out that the problem is concentrated in the negotiations in Congress and the White House, because the distribution of resources by part of the Tax Collection Office (IRS) has the infrastructure ready to send the resources practically immediately.

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