Stimulus Checks: Your Next One Is Coming

stimulus checks

The U.S. House of Representatives passed a $3 trillion stimulus bill back in May. That bill included another round of stimulus checks.

President Trump said he would be willing to sign the bill, but it was held up in the U.S. Senate.

Senate Majority Leader Mitch McConnell said yesterday that he is warming up to the idea of more direct payments via stimulus checks.

The Senate doesn’t have much time to act if there’s going to be another round of stimulus checks anytime soon.

The Senate is on a recess until July 17 and will return to work on July 20. Once the Senate is back in session, it will only have 15 working days to pass the legislation on stimulus checks. That’s  because its summer recess starts Aug. 7.

Seriously, these senators spend less time at work than anybody else I know.

That 15-day window matters because McConnell has said the next round of stimulus checks needs to be passed before the summer recess.

Passing the bill now means any senators that take unpopular votes can address the fallout before election season heats up. It also puts money in consumers hands during the summer, when they’re more likely to spend it.

It took the IRS three weeks to start mailing the last round of stimulus checks. That means if the Senate acts now, Americans could begin receiving checks by late August.

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The Big News . . .

Better Get Used to That Mask

Researchers at the Johns Hopkins Center for Health Security have run simulations that attempt to predict how citizens, businesses and governments will react to disease outbreaks. Based on those simulations, the researchers predict we will be wearing masks and practicing social distancing for the next several years. That’s because it will take time for a coronavirus vaccine to be developed and enough of it produced to create enough immunity to stop the pandemic.

Contact Tracing Is No Longer Possible

Contact tracing has been a major tool in the pandemic fight. When a patient tests positive for COVID-19, health officials work to notify everyone with whom the patient has come into contact recently. Health officials now say that the disease is spreading so rapidly across the South and Southwest that contact tracing is no longer possible.

States Roll Back Reopening                      

At least 24 states have paused or reversed their reopening plans as cases of COVID-19 continue to surge. There have been 31 states that have reported weekly increases in their case numbers and only four have reported declines. The remaining 15 states have seen case counts holding steady.

The Coronavirus Numbers

Here are the numbers from Tuesday at 8:41 a.m. ET:

  • 11,772,648 Infected worldwide
  • 541,543 Global deaths
  • 3,041,312 Infected in the U.S.
  • 133,013 Deaths in the U.S.

What’s Next?

It’s a game of wait and see when it comes to the government.

But with many states slowing their reopenings,  direct stimulus payments have become more important.

I wouldn’t bank on that check just yet, but the odds of getting one are looking better.

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Yours in Health & Wealth,

Ben Shepherd

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