Stimulus Update: 5 Potential Outcomes
Will there be a stimulus deal?
Here’s what you need to know—and what it could
mean for your wallet.
New
Stimulus
There’s no clear sign that Congress will reach a stimulus
deal before the November 3 election. As Americans await second stimulus checks and federal
unemployment benefits, here are 5 potential outcomes of what could happen next:
Option
1: Congress could reach a stimulus deal before the election
Congress could reach a stimulus deal before the election,
although there doesn’t seem to be a clear path currently.
Option 2:
Congress agrees on a stimulus deal, but president doesn’t sign bill
Congress could agree on a stimulus deal, but the president must
sign the legislation before it becomes law. One possible scenario—if and when
Congress reaches a deal—is that the president decides not to sign the bill
before the election, or at all. This scenario is probably low likelihood, since
the president supports a new stimulus deal as well as second stimulus
checks.
Option 3:
The Senate and House each pass smaller stimulus deals
The Senate and House could seek to gain political favor by
passing smaller stimulus deals before the election. This move could be largely
symbolic if there is no bipartisan support.
Option 4:
The president takes executive action
Typically, Congress has the power of the purse in Washington,
which allows Congress to authorize federal spending. That said, there are
certain powers apportioned to the executive branch, which allows the president
to act through executive order. President Donald Trump has been active through
executive memoranda and executive orders to shape policy.
Option 5:
Congress doesn’t pass a stimulus deal
Not everyone in Congress supports a new stimulus deal. There are
fiscal conservatives who say that Congress already has spent trillions of
dollars in taxpayer money on financial stimuli. They either oppose new stimulus
spending, or would limit spending to certain areas such as small business aid
or school funding
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