Here’s why new $1,200 stimulus checks are probably coming before the election

[Andy Meek]

• Democrats in the House of Representatives on Tuesday unveiled a new $2.2 trillion coronavirus stimulus proposal that, among other things, includes funding so that most Americans could get a new $1,200 stimulus check.
• There's been a stalemate in Congress for more than a month now, as Democrats press for more stimulus and Republicans' priority has switched to keeping a lid on costs.
• There's at least an outside chance that this new stimulus proposal could survive in some form and produce a new round of $1,200 stimulus checks before the end of the year.

We've been on record here as being pretty pessimistic that a new coronavirus relief accord will materialize from Congress, which would mean, among other things, that no one is getting a new stimulus check anytime soon. But maybe, just maybe, that might prove to be an overly negative prediction -- and the complete opposite might just come to pass after all.

Smarter people than me certainly feel that way. Michael Cuggino of Permanent Portfolio Family of Funds told CNBC as much on Tuesday, insisting that there's a "good chance" the US economy will get more stimulus from Congress before the election. If that turns out to be true, it will be attributable in part to the Democrat-led House of Representatives, which unveiled on Tuesday (the same day as the highly anticipated first debate between President Donald Trump and Joe Biden) a new $2.2 trillion stimulus package that includes billions of dollars in aid for the restaurant industry, billions in aid for state and local governments, and, yes, funding to support a new round of $1,200 stimulus checks (and $2,400 checks for married and joint tax filers).

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Here’s why new $1,200 stimulus checks are probably coming before the election originally appeared on BGR.com on Tue, 29 Sep 2020 at 15:11:49 EDT. Please see our terms for use of feeds.

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