Finally, A Stimulus Package Agreed? Including a $1,200 Check…
Democrats were offered a $1.8 trillion Covid-19 Stimulus package, as President Trump reversed course on the size of the package. This is still smaller than the $2.2 trillion Democrats had most recently offered but it is $200 billion more than the $1.6 trillion the White House proposed last week.
There is newfound optimism since Trump had previously rejected the Democratic proposal with aims to postpone any negotiations until after the November presidential election. However, a U-turn emanated as he wanted standalone bills to send out stimulus checks and provide relief to airlines – although differences remain over the details of the package and talks continue. Negotiations have deadlocked over provisions like funding for the state and local governments. Any negotiated deal will also have to pass through a Republican- controlled Senate whose members are hesitant about spending trillions of dollars for such a package.
It remains unclear whether both sides can reach a deal on another package. We shall have to hope and see.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.