Waiting isn’t easy, especially when money is involved. Add the coronavirus pandemic to the mix, and everyone is on pins and needles awaiting their next stimulus check. If you’re anxious about the next stimulus package and confused about what’s going on in government, you’re not alone. The following are eight topics to be aware of if you’re trying to make heads or tails of the government’s stimulus plans.
8. Stimulus Negotiations Are Ongoing
The upcoming few weeks may see some definitive decisions coming from Washington. Negotiations are coming to a head as the election looms over both parties. The Senate may vote to revive the Paycheck Protection Program. Also, Senate Majority Leader Mitch McConnell will lead another vote for a small stimulus bill that doesn’t include money for stimulus checks, something Democrats want to include in the next stimulus package.
On the other hand, Nancy Pelosi wants to finalize the $1.8 trillion stimulus offer from the White House. These two diverse approaches have everyone on the edge of their seat, waiting to see what happens.
7. Most People Weren’t Frivolous with Their Stimulus Money
According to the Federal Reserve Bank of New York, most people who received the stimulus checks either saved their money (36%) or paid down debt (35%). Contrary to what people might believe, most individuals who received stimulus money were responsible with their windfall. When asked what they would do with another check, most people said they would save the money or pay down debt.