Will there be a second round of Stimulus Checks in December?Nancy Pelosi and Mitch McConnell continue to debate Stimulus Packages between each other as millions of Americans are unemployed, rising to levels not seen since the great recession.
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Three bills are in play:
1) Nancy Pelosi has a bill that includes a 2.2 Trillion Dollar proposal
2) The second bill is a bipartisan bill in the amount of 908 Billion, this has support from both republicans and democrats.
3) The third bill is proposed by Mitch McConnell, the amount of his bill is $500 Billion Dollars
Prominent Republicans such as Mitt Romney, Susan Collins, Lisa Murkowski, and Bill Cassidy have walked Mitch McConnell through the bipartisan plan step by step to explain to him why he needs to spend more.
The Democrats are also telling Pelosi she needs to spend less.
With that in mind it seems that the politicians may actually compromise and work for the American people.
Politicians seem to be focusing on more PPP stimulus instead of giving an advanced tax credit through Stimulus checks to the American people because doing so would further increase the deficit, and not directly benefit tax generation. The first round of stimulus checks cost $300 billion dollars. Both sides are facing backlash as the government debt continues to increase, and as the federal reserve increases the supply of money.
Since March the money supply is up over $3 Trillion, which accounts for 23.6% of all US Dollars, and equates to the greatest Year-Over-Year Money supply surge in History.
With the talks of ways to decrease the federal deficit, it’s hard to find a way where they will fit another round of stimulus checks into the Bipartisan bill before Christmas.