Deadline This Week SSI Second Stimulus Check Update $1,200 + $400 + Unemployment Benefits
Here’s your daily stimulus check, your second stimulus check, your executive action, order,
memorandums, moratoriums, and stimulus package update for Saturday, November 29th, 2020.
Congress returns to Washington on Monday, facing a full plate of goals with little time to execute a new relief package.
They have until Dec. 11th to pass a new funding bill which we all know is going to get done.
However, the House of Representatives has nine official in-session days and the Sente 14 days before houses break before the new year.
With less than a month to debate, draft, and vote for a new bill, Congress is expected to work overtime.
After the last votes on Dec. 4th, House Members “are encouraged to remain in Washington.’
Remember, the Senate and the House leaders can recall members at any time for a special vote.
Meanwhile, Advisers to President-elect Joe Biden are planning for the increasing likelihood that the US economy is headed for a double-dip recession early next year.
JPMorgan Chase’s top economist, Michael Feroli, “told clients last week the recent coronavirus surge and renewed restrictions would drive up layoffs and shrink economic activity in the first three months of 2021 by some $50 billion.”
Many of the president-elect’s advisors have become convinced that deteriorating economic conditions from the renewed surge in cases is requiring urgent action.
However, a recent survey by the Wall Street Journal stated, “on average, forecasters expect the US economy to grow at a rate of 3.3% at the start of the next year.”
They are pushing for Democratic leaders in Congress to reach a quick stimulus deal with Senate Republicans even if it falls short of the larger package.
Lawmakers are putting this added pressure to hopefully get something passed even if its not as large as they would have liked.
Progressive groups celebrated President-elect Joe Biden’s choice of Janet Yellen for Treasury Secretary, landing her as an open-minded professional willing to take on Wall Street.
However, there are key areas where she could quickly disappoint them.
While she’s a strong advocate for a big new economic relief package, she has also spoken forcefully about the need to get the growth of the federal deficit under control.
Yellen, who sits on the board of the Committee for a Responsible Federal Budget, has warned repeatedly about the growing debt for the past decade.
She stated, “For more or less the last 20 years at least, what you see is the U.S. debt path completely unsustainable under current tax and spending plans.”
The top priority for almost all groups is the passage of a new economic relief package, legislative negotiations where Yellen, would play a key role on behalf of the administration.
Of course, we won’t know what her decisions are until she begins in January, however, it’s important to note where her past stances are in terms of stimulating the economy again.
Sources:
https://www.politico.com/news/2020/11/27/progressives-janet-yellen-treasury-440789
https://www.cbsnews.com/news/recession-double-dip-2021-economist-fears/