Second U.S. Stimulus Finalization Seems Likely By 7/31 Recess

With the United States decision making body set to begin what could be a five-week recess at the end of July, many Americans are hopeful of a favorable announcement regarding another round of stimulus funds before Washington, D.C. appointees leave for summer break.

Even though unemployment numbers across the country have improved slightly since we experienced Great Depression like job loss over the final two weeks of April 2020, many Americans are still struggling to catch up from the severe economic crash caused by the COVID-19 pandemic.

Idaho experienced record job loss in April, increasing from a record low rate of 2.5%, to a record high rate of 11.5%. Idaho hadn't experienced comparable unemployment numbers in nearly 30 years.

H.R. 6800, or the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES) was introduced into the U.S. House on May 12, 2020, and ultimately signed off on by President Donald Trump. The stimulus, with a purpose of supplementing money lost by U.S. businesses on the state, local and tribal levels, as well as assisting Americans who were laid off or furloughed due to the Coronavirus, amounted to roughly $1,200 for each tax paying adult.

A second round of relief payments through H.R. 6800 has been given the green light already by President Trump, as well as House Speaker Nancy Pelosi, and now it just takes the two sides coming together once again in a timely fashion to make it happen. Once it's passed by Congress and signed off by the president, it will be just a matter of days before the first wave of payments hits U.S. bank accounts.

It's highly unlikely it won't get passed prior to the July 31 government recess, but if it doesn't, it would be a huge blow to families and businesses struggling to make ends meet.