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Stimulus Check Update 9-21-20: WOW! New Stimulus Bill Today! Trump Just Issued Huge Stimulus Package

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Here’s your daily stimulus check, your second stimulus check, your executive action, order, memorandums, moratoriums and stimulus package update for Monday, September 21st, 2020.

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Another deadline, which is coming up even sooner than the $1,200 payments, will provide $500 for dependents that did not receive payments in the first round of stimulus checks.

The deadline for those collecting Social Security, Supplemental Security Income, Department of Veterans Affairs or Railroad Retirement Board benefits to claim their $500 dependents is the end of this month, September 30th.

This applies to non-filers that did not claim their dependents on the non-filers IRS portal before May 5th.

Meanwhile, Congress is set to recess once again in early October, and won’t be back in Washington until after the November 3rd election.

While the House has claimed that they will not leave until another stimulus package is approved, the Congressional calendar currently shows the House leaving on October 2nd and the Senate departing on October 9th.

Looking at the timeframe for the approval of another stimulus package before the election, we only have a few days for Congress to pass a Phase 4 disaster relief bill before they are set to head back to their home states without postponing their vacation time.

If the Senate passes a stimulus bill on September 30th, the House can give it the OK on October 1st, and President Trump can sign it into action on October 2nd.

But if the Senate passes a stimulus bill on October 23rd, the House can approve it on October 26th, and President Trump can sign it into law on October 27th.

Finally, Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin will testify before the House Financial Services Committee tomorrow, where they will be grilled on the need for another stimulus package.

Powell recently stated: “More fiscal support is likely to be needed,” and I hope that this Congressional committee will hold him to his words.

But if Congress is unable to agree on another stimulus package, Mnuchin, Powell and President Trump have made it clear that they may use another executive action to move more funds around for another disaster relief bill.

With $138 billion left in the PPP piggy bank, and just $ billion spent of the $600 billion Fed Main Street Lending Facility, these untapped funds could be diverted into another stimulus package that contains another round of $1,200 stimulus checks and extended enhanced unemployment benefits.

Finally, the House announced a new stimulus bill today to help fund the government and avoid a shutdown on September 30th.

Nancy Pelosi hopes the bill will: “avert a catastrophic shutdown in the middle of the ongoing pandemic.”

The bill would fund the government until December 11th, and Senate Republicans have been quick to throw mud on the government funding stimulus package.

Mitch McConnell responded to the announcement in a Tweet: “House Democrats’ rough draft of a government funding bill shamefully leaves out key relief and support that American farmers need. This is no time to add insult to injury and defund help for farmers and rural America.”

A vote in the House could occur as soon as this week, and like always, they seem to be more focused on themselves than the millions of struggling Americans in need of stimulus funds.

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