‘There’s going to be a lot of angry people.’ Despite Trump tweets, Americans still face weeks before more stimulus money arrives
But action on that may not happen until September, when Congress also has to address appropriations for fiscal year 2021, which begins in October. A delay on that would prompt a partial government shutdown.
“I cannot imagine any way in which Republicans or Democrats want to have a government shutdown a month out from the election,” Hoagland said.
The stimulus aid could get taken up in a continuing resolution, he said.
Meanwhile, Americans who are counting on more financial help will have to wait, Hoagland said. That’s as Trump’s executive order did little to prevent evictions and details of how the new extended unemployment benefits will be paid on a federal and state level is still getting sorted out.
“I think there’s going to be some people that are going to be hurting between now and September,” Hoagland said. “Come Labor Day, there’s going to be a lot of angry people.”
If Congress signs off on the stimulus checks in September, Americans may have to wait until October or later to receive the money.
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“Politically, some of the people in the White House might think it’s a good thing to get a check signed by Donald Trump right before the election,” Hoagland said.
This time around, deploying millions of $1,200 payments will likely be easier for the IRS, which means people could receive the funds more quickly, said Kris Cox, senior tax policy analyst at the Center on Budget and Policy Priorities.
“Despite decades of funding cuts, the IRS impressively got stimulus payments out the door within weeks of the CARES legislation passing,” Cox said. “We expect the IRS is anticipating a second round and they’re ready and equipped to get money out the door quickly.”
But that depends on lawmakers coming back to the negotiating table and agreeing, she said.
Article source: https://www.cnbc.com/2020/08/14/despite-trump-tweets-americans-still-face-weeks-before-relief-money-arrives.html