If you’re depending on a second stimulus check, sit tight: You won’t know its amount for at least a month. And if it comes at all, it will be your last and final check.
Senate Majority Leader Mitch McConnell told CNBC to “anticipate the decision being made on whether to move forward in about a month.” He emphasized that the fourth and final stimulus bill will be designed to bolster the economy after businesses have reopened, and he is waiting to gauge how the economy and unemployment are doing at that point, in a few weeks.
Translation: No check for you until at least August. For the sake of your own budgeting, you should plan on autumn.
The Senate is back at work on Capitol Hill today after leaving for Memorial Day last month. Two weeks ago, House Democrats passed the HEROES Act, an 1,800-page, $3 trillion stimulus bill, which included stimulus checks of $1,200 per individual and up to three dependents. It is not expected to pass the Republican-led Senate.