$1200 Second Stimulus Check Update - The State of The Stimulus

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Here's the next stimulus check timeline, impact of the next jobs report on the stimulus package and how it relates to the economy & stock market as a whole.

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The current state of the next stimulus check and next stimulus package is in a bit of a stalemate but here’s what we do know. It appears that legislators are holding strong onto the idea of a Mid-July bill.

With it being the 29th of March now and the Senate’s vacation beginning in just a few days it is safe to assume no bill will be drafted and passed by Friday.

So this leaves somewhere between July 18th and August 10th for the next window for a bill to be passed. August 9th because congress goes on another vacation from Aug 10th to September 7th.

What concerns me most is we don’t have a complete bill yet. Yes, there have been numerous debates, discussions, and proposals for the next bill but there isn’t actually a comprehensive bill it text yet. This concerns me because that means it’s going to take even more time.

I mean, how long does it take to draft a 500 to 2000 page bill? I wasn’t able to find what the average time it takes to draft a new bill but I can tell you it’s probably longer than 1 day.

But even more this will need to be debated on, passed in the House and passed by president Trump. All these things take time and there seems to be no rush despite what seems like overwhelming evidence supporting urgency to get a bill going.

Senate Majority Leader Mitch McConnell did a live speech on Friday and this is where a lot of my timeline concerns are coming from.

First, he said if Congress does take up a second stimulus check, work will begin in July. This is what I was getting at a minute ago, to me this implies that really nothing has been done yet besides talk.

And second he said "Some time in July we will take a snapshot of where the country stands, And if there is a final rescue package, that's when it will develop."

This is likely in reference to the June jobs report and June GDP data. According to the Bureau of Labor Statistics the June jobs report comes out at 8:30AM on the first Friday of every month.




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Disclaimer
This presentation does not constitute legal or tax advice. It is provided solely for informational and educational purposes and does not fully address the complexity of the issues or all the steps businesses must take under applicable laws. You should consult your professional advisers regarding your individual situation. Max Maher undertakes no obligation to update the information in this presentation, and no representations are made that the content is error-free.
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