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Stimulus check 2 negotiations are 'productive' — so when will there be a deal?

Stimulus check 2
(Image credit: Getty Images)

Stimulus check 2 negotiations are continuing this week as Senate leaders and White House officials work to pass the Republican HEALS Act, the Democratic HEROES Act, or a compromise new coronavirus relief bill before the end of the week. 

If a stimulus check 2 amount and stimulus check 2 eligibility framework — among other points of contention like federal unemployment benefits — aren't agreed upon by Monday, Aug. 10, Americans could be waiting until September for a second round of direct payments.

Several lawmakers involved in stimulus check 2 negotiations say talks are happening around the clock, but there are mixed reports about whether they're any closer to a deal.

After a meeting on Monday night, House Speaker Nancy Pelosi (D-Calif) said talks were "productive" and that negotiators “are moving down the track," according to CNBC.

Sen. Chuck Schumer (D-NY) also said that they're “'making some progress on certain issues, moving closer together," following the meeting with Pelosi and White House chief of staff Mark Meadows.

We expect stimulus plan talks will continue throughout the week, as there's both pressure and a need for a finalized relief package soon. The CDC reports coronavirus cases are still rising in several states, while enhanced federal unemployment benefits expired at the end of July for those out of work. 

When is stimulus check 2 coming? 

The stimulus check 2 date is still uncertain but if negotiations are, in fact, productive, it's possible an agreement will be reached before next week.

If a plan is passed, payments could follow soon after. But if a plan isn't passed, Senators will resume deliberations on Sept. 8 when the upcoming recess is over.

The President could also step in with an executive order, although it's uncertain how much leverage he has. The Washington Post reports that the Trump administration is considering "unilateral action" in the face of stalled debate over coronavirus economic relief, perhaps in the form of suspended payroll taxes.

Once a final package is approved, direct payments won't come immediately. It’ll take the IRS some time to reset its system for getting checks to Americans. If the timeline for the first stimulus check is any indiction, we could expect the initial waves of stimulus check 2 payments a few weeks following passed legislation.