Simplified Finance
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simplified finance November 30th Stimulus check UPDATES Is Congress stalling? Hello, guys! And welcome to another one of our updates regarding the second stimulus package. Now we have just gotten back from our Thanksgiving holiday breaks, but we've always been keeping up with the latest regarding the possibility of a next round of stimulus checks as Congress is also on its way to another session. Now we all know that Congress also went on a long extended break. But we're hoping that they get back to work again so that they can continue to talk and discuss more about the stimulus checks that we've all been waiting for if it is indeed going to come. But while we would love to give you some good news regarding the second round of stimulus, checks were beginning to think that Congress has been stalling for the past few weeks as time is now running out. As you can see here, reports from different sources have been saying that Congress has now stalled on stimulus talks even as millions of Americans around the country have been suffering from the results of such a stall amidst the rising number of coronavirus cases in a country that has been economically hampered by the pandemic. Negotiations on another round of stimulus checks is still ongoing and may not even be going as good as we would like them to be, especially because of how the two sides, the Democrats and the Republicans are still sticking to their own partisan beliefs Regarding the issue. You can see here in the same CNBC report that the Democrats and the Republicans are firmly entrenched in their respective negotiating positions. This means that both sides don't seem to be in the mood to try to come up with a compromise solution to the problem, either because they're too loyal to their partisan beliefs or because of how they're too proud to give in. But the American people right now don't need politicians who are loyal to their parties to a fault. Instead, we want our politicians to stop politicizing this issue and get on with the negotiations and talks in terms of what they want. House Speaker Nancy Pelosi of the Democrats has been pushing for stimulus package that has a total budget of somewhere north of $2.2 trillion. This budget includes a second round of stimulus checks and maybe similar to the Cares Act that was signed into law by Donald Trump earlier this year. Meanwhile, the Republicans air pushing for uM, or targeted package worth only $500 billion which does not include a second round of checks. But the initial policy quickly came under fire from the Republicans who thought it's generosity would create a disincentive to find or return toe work. Numerous economic studies published over the summer debunked this theory, however, while the Democrats air clearly in line with what we want toe happen, which is a second round of stimulus checks. The Republicans have been against it from the very beginning, and even when the first round of checks were given out, saying that it would create a disincentive for the Americans to try to find jobs or return to their work because they would Onley rely on the government for the Dole outs. An improving economy may change that dynamic, though, and lead such a subsidy to create a disincentive to find work among the unemployed, Strain said. Republicans are more likely to approve a weekly boost in the range of 250 to $400 he said. But economic studies have shown that if a dole out from the government were to improve the country's economy, it would create an incentive for the unemployed to try to look for work because of how some businesses will now be open to accept new employees to meet the growing demands of the consumers. Quote. I don't think there's any sign of visible mo mentum, said Mark Hamrick, a senior economic analyst at Bankrate. Quote. It's one example after another of Lucy moving the football before Charlie Brown goes to kick it. But then again, even the analysts and experts are beginning to think that there's no visible mo mentum regarding the possibility of a second round of stimulus checks to be given out to Americans all over the country. We haven't been hearing anything about the Democrats and the Republicans talking about coming together for a agreement regarding the matter, as both parties air still very much sticking to what they want. There is, however, still a chance because Congress will be in talks for that budget legislation, which should be the main priority right now as they need to pass a budget before December 11th if they want to avert a federal government shutdown. Some are hoping that relief measures get attached to a spending bill that Congress must pass by December 11th to avert a government shutdown quote. The most likely thing to move will be that budget legislation, said Andrew Stettner, a senior fellow and unemployment expert at Century Foundation, a progressive think tank. There's still a lot of people hoping that the different members of Congress do find it in themselves to come together and talk about the stimulus package and include it in their discussions about the budget legislation. But the most likely to happen is Congress will prioritize the budget discussions over any other matter because averting a federal government shutdown is still the more important matter at hand. In that sense, we cannot completely say that Congress is merely stalling because of how they're still other priorities that need to be discussed over the qualms of the Americans for another round of stimulus checks. We still cannot help but think that they're politicizing this issue too much and are not willing to budget inch when it comes to their demands and standing regarding the budget needed for a second stimulus package. Well, those are things that are up to Congress to decide, and all we can do right now is to hope and wait that our politicians and representatives do, in fact, decide to set aside their differences in opinions and come together just so they can meet the needs and demands of the common folk. As we wait for things to happen, you can subscribe to our channel so that you will be the first to get notified of any developments regarding this matter.