Democrats and Republicans are finally debating a new relief bill and they are on crunch time to get help to American homes as new cases of COVID-19 surge nationwide and most benefits of the CREAS Act have ended or are ending soon.
Senator Chuck Grassley said on Monday that the HEALS Act will follow the CARES Act stimulus check model, as reported by The Hills, saying that "the Republican plan provides for another $ 1,200 round of economic impact payments for most Americans."
LATEST ON STIMULUS CHECK 2: The meetings for the approval of a new stimulus check of $ 1,200 have begun
Grassley stated that they will continue with the payment scheme that was made in April and May, so the HEALS Act guidelines would be the same as the CARES Act, allowing the IRS to follow the previous model.
The last day of the Senate session will be before August 7, which means that Congress will have to agree on a new stimulus bill before the Senate breaks for the August recess which ends on September 8.
So far it is not known how long it will be from the moment the bill is signed till the IRS sends the checks, but based on the time it took in March, the first payments could take two weeks to reach Americans.
What would cause a delay?
In the event that Congress and President do not agree on the content of the next stimulus law and do not meet the August 7 deadline, another month will have to pass before the next session. In this way, both the Senate and the House of Representatives would meet again to propose, debate and approve the bill.
The good news is that both houses and the president are motivated to pass the new law before the break.
The IRS built the "Get My Payment" tool to track the stimulus check and to sign up to receive the deposit directly, which is the fastest way to receive the direct payment.