Your next $1,400 stimulus check could be the first of many as some Dems support recurring $2,000 payments
YOUR next $1,400 stimulus check could be the first of many as some Democrats have revealed they support recurring $2,000 relief payments.
President Joe Biden's proposal for a third round of stimulus checks has sparked a push for monthly recurring payments.
However, House Budget Chairman John Yarmuth – who spoke with MarketWatch on Wednesday – said he hasn't heard anything about recurring payments.
Yarmuth said Dems are hoping to pass a "filibuster-proof budget reconciliation package" by March.
Democrat Greg Nasif, a spokesman for non-profit group Humanity Forward, told the news outlet: "Families, small businesses and the overall economy are all pretty much the same on this issue.
"They need to plan their budgets. They do better, and they spend more, when they know what’s coming.
"That’s why recurring installments of direct payments are so important, whatever the scale and scope."
Rep. Ro Khanna, a California Dem, admitted he wants recurring monthly Covid relief payments worth $2,000.
Khanna recently said: "Even if we can’t get $2,000 in, you get some recurring monthly payments, at least until the summer, so that the Americans have some help.
"Obviously, I’m going to want to support what’s going to get relief to people, but I think that that would be good to have."
According to POLITICO, a group of more than 50 House Dems – led by Ilhan Omar – sent a letter to Biden's administration on Thursday urging for reccurring checks.
“One more check is not enough," the letter reportedly reads. "Recurring direct payments until the economy recovers will help ensure that people can meet their basic needs, provide racially equitable solutions, and shorten the length of the recession."
Meanwhile, House Speaker Nancy Pelosi gave a ray of hope for new stimulus checks to be rolled out speedily as she confirmed action on the relief was “urgent."
Pelosi indicated extra pressure is being placed on members to get the relief package approved so the new $1,400 stimulus checks can be distributed to the millions struggling from the economic damage of the coronavirus pandemic.
In a letter sent to her Democrat colleagues on Wednesday, Pelosi said committee chairs "are working on coronavirus relief legislation as a basis for reconciliation, should that step be needed."
Pelosi added that "we hope and expect" Republicans will back an aid bill, but "Democrats will not take any tools off the table."
“We hope and expect Republicans in Congress will support assistance that will bring relief to their communities,” she wrote in the letter to colleagues.
“But the need for action could not be more urgent, and Democrats will not take any tools off the table as to how the House and Senate can get this package done.
“We are grateful to Members for their flexibility with regard to the schedule.”
As part of his $1.9trillion coronavirus relief plan, president Biden proposed a third round of stimulus checks to help millions struggling from the economic fallout of the pandemic.
The $1,400 stimulus check will be added to the $600 checks previously approved by Congress.
Last week, Biden signed an executive order to speed up distribution, but analysts had warned it could be months before payments actually arrive.
Signing the order, Biden asked the Treasury Department to take steps to expand and improve delivery of the stimulus checks, such as setting up online tools for claiming payments.
An now, the IRS could take money from Americans’ second stimulus checks if they owe taxes – despite the agency’s pledge it would not.
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