With a smaller $600 stimulus payment already disbursed in late 2020, many still feel that Americans need more financial support, including many in congress. The push for a larger stimulus payment has come front and center in 2021’s stimulus debates this week and efforts to pass a bill offering a third payment are finally overcoming some of the obstacles they faced earlier this month.
Voting on a bill that includes elements like a public health vaccine program and $1,400 stimulus payments could begin as soon as this coming week, however the more elements a bill includes the more points of contention there may be about its contents.
Proponents of a larger pandemic relief payment have a choice to make, though. Pass a smaller relief bill for quicker payments now or continue to debate the finer points of a larger bill to provide sweeping financial support later?
The delays anticipated if a larger bill is proposed would come mainly from those who do not support elements of the American Rescue Plan which will likely be included in a larger bill. Those who think this plan would be too costly to enact at $1.9 trillion would likely oppose a large bill with a high price tag. That said, those same lawmakers might be much more amenable to a bill that includes only elements they feel are most needed, like the $1,400 relief payment and a vaccination program, and nothing more.
While each side of this debate has their reasons, the one thing that seems certain in the minds of lawmakers is that the American people need a $1,400 payment. Other elements may be added or dropped from a new bill, but it’s highly likely that whatever passes will include a stimulus payment of $1,400.
If a stimulus bill passes within the coming week, payments could begin reaching people by mid-February or earlier, in some cases, depending on how payments are disbursed. If a larger bill is proposed and congress takes a longer time to agree on a bill, payments could reach Americans as late as the end of March.
Which would you prefer? A smaller bill to get payments sooner or a larger bill for more included relief programs?