$2000 Stimulus Not to Replace $600

By now, many of you have received the $600 stimulus check and possibly spent it. From all actuality, Democrats and Republicans could not agree on the payment, nor could they separate it from other political factors. Some have stated, “With all due respect, this doesn’t seem like a Republican versus Democrat issue. This seems to be a Senate versus the United States of America.”

The business included in these actions were the $600 stimulus checks, the $300 weekly federal unemployment benefits, money to help small businesses meet employee payroll, a month-long extension to the end of January of a federal eviction ban and assistance to help distribute the coronavirus vaccine.

President-elect Joe Biden has referred to the stimulus portion of the joint package as a “first step and down payment, “forecasting a larger bill after he is sworn into office—including a third stimulus check.

On the political side, on December 22, Biden said that he would like to see a third stimulus check which would hinge on the Georgia’s Senate runoff, which will determine which party controls the Senate.

If Republicans win one of the two contested seats, they will maintain the dominant party. If they lose both seats to Democrats, then that party wins the Senate by a razor-thin margin, increasing its chances of passing objectives like a larger stimulus check, more federal unemployment checks and funding for vaccine distribution.

Referencing this $600 stimulus check, the IRS stated that it started making payments via direct deposit, with paper checks and EIP debit cards going out in the mail on Wednesday December 30.

The IRS said it will continue to make payments through the middle of January. Afterward, you can claim any missing payment when you file your taxes in 2021.

FYI, stimulus checks are not cheap. The IRS said this summer that it had spent $270 billion sending out 160 million checks. To send the $1200 checks would have cost $300 billion, according to Republican Senator Mitt Romney. At this news Republicans bridled at the cost.

Look for your stimulus check soon, if you have not yet received it.