An insider with the Internal Revenue Service (IRS) believes that Americans may not get their second stimulus check until September if Congress is unable to reach a deal by Friday.
Chad Hooper, the national president of the Professional Managers Association, told Grow that the IRS ‘is better positioned to issue a second check’ than they were in April, but Congress just has to come to an agreement.
Otherwise, that would mean Americans, particularly the more than 30 million out of work, may have to wait until September for the second round of relief.
However, if lawmakers can strike the deal by this Friday, most stimulus checks could be sent out this month.
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An insider with the Internal Revenue Service (IRS) believes that Americans may not get their second stimulus check (file image) until September if Congress is unable to reach a deal by Friday
During an interview with CNBC’s Squawk on the Street on Monday, Treasury Secretary Steven Mnuchin said that President Donald Trump ‘is determined to spend what we need to spend’.
‘We’re prepared to put more money on the table,’ Mnuchin added
Lawmakers were hoping to strike a deal for the coronavirus relief package by last Friday since their scheduled recess started August 10 and will last through September 8.
But Mnuchin said that he’s open to revisiting discussions around the relief package this week.
‘If we can get a fair deal we’re willing to do it this week,’ Mnuchin said, while also noting that he hasn’t spoken to Democratic lawmakers since Friday.
With no deal in sight on coronavirus relief legislation, Trump attacked Democratic leaders negotiating with his top aides over the weekend and threatened to act unilaterally to cut payroll taxes and take other actions.
‘If Democrats continue to hold this critical relief hostage I will act on my authority as president,’ Trump said, resuming attacks on Speaker Nancy Pelosi and Senate Minority Leader Charles Schumer, as the two sides remain trillions apart on relief.
He also repeated his claim that the coronavirus ravaging the country will go away – even as US coronavirus deaths topped 160,000.
During an interview on Monday, Treasury Secretary Steven Mnuchin (pictured) said that President Donald Trump ‘is determined to spend what we need to spend’. He added: ‘We’re prepared to put more money on the table’
Trump said the virus ‘is disappearing. It’s going to disappear.’
The president spelled out new details of an executive order he has been mulling – without yet clearly demonstrating what authority he will cite to do so. But the president did not immediately say for certain he would do so.
‘What we’re talking about is deferring the payroll tax for a period of months,’ the president said at a hastily-called news conference at his golf club in Bedminster, New Jersey.
He said the payroll tax would ‘go until the end of the year’ and be retroactive until July, possibly indicating a short-term cut.
Trump also said he would act on ‘enhanced unemployment benefits’ – even with negotiators hung up on extending a $600 per week benefit.