The bad news is, White House and Democratic negotiators have House Speaker Nancy Pelosi said on MSNBC on Friday.on another till after the . “I would have hoped that we could have done it before the election,”
The better news is, Washington —— remains committed to more economic assistance, which could provide a of per and more for . However, Senate Majority Leader Mitch McConnell has hinted he won’t lead the Senate to vote on a bill , which is two months away.
The results of the election could affect the next stimulus payment in five major ways, which we’ll spell out below. (P.S. Here’s how the IRS.) This story updates with new information.
Best-case scenario: Congress approves a check shortly after the election
Senators, Representatives and President Donald Trump have all said they. But exactly when after the election is the question. There are two time periods of note. The first is the “lame duck” session from Nov. 4 to Jan. 19. The other is after the presidential inauguration on Jan. 20.
McConnell said Friday that he favors working on more relief after Jan. 20. Trump has promised “a tremendous stimulus package immediately after the election,” if Republicans sweep Congress and the presidency. Pelosi wants “a clean slate” if Biden wins the presidential election. The new term of Congress convenes on Jan. 3, which could also change the political makeup of the Senate and the House of Representatives, a shift that could affect whether a certain bill is supported or opposed.
A stimulus check in the next relief bill isn’t guaranteed
While there’s a bipartisan commitment to some sort of economic stimulus, there are also several forms that could take. For example, a large package could pass that includes, money for . Or, a much narrower bill to bring targeted aid to programs considered critical could make it through before the inauguration, which might mean that a separate stimulus package could potentially come in early 2021. Right now we have to wait and see.
Election results will influence the timeline to receive a new stimulus payment
Once again, there are two issues to consider when we think of. The first is that the makeup of the incoming Congress and presidency could either buoy current leaders or potentially cause them to dig in their heels until the official swearing in of the new term. That might mean a check is approved closer to December, or much later, in January or February.
Then there’s the question of how long it will take for the IRS to mobilize the first wave of stimulus checks, as well as payments for other groups, once a bill allotting more direct payments is approved. Learn more about thethat help determine when you got your first payment.
Qualifications for a second check aren’t set in stone
Democratic and Republican negotiators both want to makefrom the , but have different ideas about what should change.
For example, the Democratic proposals support bringing certain undocumented immigrants to the US who pay taxes the same $1,200 stimulus check afforded to , as well as . They’d also either broaden the to include college students and , or else approve of $1,000 per child dependent instead of $500 apiece. There may also be changes to .
It’s also possible a new bill could clarify if people. The issue is under current legal review.
A new stimulus check could bring you more money — or less
New qualifications might dictate a new total stimulus check sum for you. We’ve made some calculations to. In addition to changes in a bill that could show up in your next direct payment, there may be changes to your life circumstances since last April that could alter the size of a second check, in either direction. For more details, this is how will bring.
P.S. If the IRS owes you money, you need to claim it by Nov. 21
If you’re, there are several ways to hunt it down for a few distinct groups.
People who don’t normally file taxes: As many aswere estimated to be eligible for a first check but didn’t receive it because they needed to register with the IRS — an extra step most people didn’t have to take. The deadline is Nov. 21 and we .
Some people with dependents. The deadline to get that in 2020 is also Nov. 21, and we explain .
If you share custody of a child but you aren’t married, you may.
If you’re a person who’s incarcerated: The ruling on a class-action lawsuit has resulted in the, with a deadline of Nov. 4 for eligible inmates to fill out. Online claims can be filed until Nov. 21, though inmates’ access to the internet isn’t widespread and is determined state by state.
For more information about stimulus checks, here’s what to doand how to .