What Senate Republicans are proposing in the HEALS Act is nearly identical to the first stimulus bill. House Democrats still support their stimulus check proposal in the HEROES Act. Here’s what we to know about where things stand, and when you might actually see a check. Indeed, American CEOs now foresee a W-shaped recovery-a double-dip recession-as more likely than a V-shaped recovery. Simply put: The economy is teetering on the brink of a double-dip recession.
However, as coronavirus cases soar through much of the country, state unemployment rolls shot back up to 17 million the week of July 18. As states eased their shutdown orders, that number fell to 16.2 million as of July 11. The number of American on state unemployment rolls shot up from 1.8 million on March 14 to 24.9 million by May 9. But the economic situation the country faces suggest that both parties will come to an agreement for more stimulus. Democrats want more money for state governments and unemployment benefits, while Republicans want the extra $600 weekly federal unemployment benefits reduced and COVID-19 lawsuit immunity for businesses. Both Senate Republicans and House Democrats support sending another round of $1,200 stimulus checks to Americans, however, they can’t come to an agreement for the broader stimulus bill in which the checks would be included. To enjoy unlimited access to our journalism, subscribe today. Our mission to help you navigate the new normal is fueled by subscribers.
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