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Second Stimulus Check Hopes Fading One In Five Fear Congress Does Not Reach Deal

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With continued failure to reach bipartisan agreement on a further stimulus package many believe Congress will never agree upon a deal for more spending to combat the impact of COVID-19 upon the economy.

While Democrats and Republicans have each put across proposals, negotiations to agree upon an action plan which both sides could support through Congress proved futile.

In a recent YouGov/The Economist poll, 20 percent of 1,500 adults asked from August 16 to 18 said they thought another package would never be passed by both chambers. On the other end of the scale, 5 percent said in the next week, while the most common answers were within the next month or within the next two months, both on 26 percent.

Democrats have pushed their package, the HEROES Act, with a budget of around $3 trillion while the GOP outlined its desire to cap spending on proposals at around $1 trillion.

Democratic figureheads House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) were locked in negotiations with Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows earlier this month, with talks in the end finishing with no agreement.

The Democrats suggested they could compromise down to a $2 trillion spend, though said negotiators on the other side would not budge. In a counter offer, the White House suggested moving in a piecemeal fashion, pushing through measures each side agreed with while moving to tackle contentious issues—though this suggestion did not gain traction with their counterparts.

In an interview with MSNBC on Monday, Pelosi said: “They don’t want to put the amount of money needed to crush the virus and that is the threshold.”

Statista

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