Trump Says Second Stimulus Check Is Coming “Very Soon!”: Considering the USA’s crumbling economy, and the advent of Coronavirus Pandemic, the President, Donald Trump has recently assured the citizens that the Second Stimulus Check is coming soon!
The first wave of Stimulus Check happened in 2009 during the reign of former President Barack Obama. It happened as the after-effects of the recession of 2008’s Economic Failure.
Let’s get into the details of the second Stimulus Check!
CARES Act: Coronavirus Relief Package
The global pandemic starting taking a hit in the early 2020s, and since then USA’s condition is worsening. In these seven months, over 1 million have been laid-off their jobs.However, back in March, a financial package- Coronavirus Aid, Relief, and Economic Security Act i-e the CARES Act got signed into the law. In the relief package, households were allowed to issue money beforehand for their daily needs.In this relief package, more than 160 million Americans issued the value of $270 billion.
How Soon Is ‘Very Soon’?
It is no secret that this economic fallout has been hard on the people who earned on wages. However, in an interview, President Trump said that the package is coming ‘very soon.’
He did not give any other details regarding the content of this ‘stimulus package,’ but he said:
“We are working on it with Congress. We are working on another stimulus package, and that’ll take place I think very soon.”
Earlier this week, Senate majority Mitch McConnell said that they are planning to introduce his version of Stimulus Package by the end of this month. While Trump said that the stimulus check is going to be ‘very generous,’ Mitch McConnell said that it’d be limited for the Americans who earn less than $40,000 a year.
Is The Stimulus Check Going To Be A Direct Payment?
As we all know, direct cash payments improve financial security, and it can speed up the recovery. Recently, a few economists gave their views about the Stimulus Checks.
The stimulus payments should be issued automatically based on some economic indicators such as the unemployment rate until the economy recovers.
