The deadline to approve the next stimulus package is just a few days away. Since the GOP introduced their proposal for the next package on July 27, lawmakers have been meeting daily to reach a consensus. However, no deal is reached yet. This has raised concerns about whether lawmakers will reach a deal on the coronavirus stimulus package before the August 7 deadline.

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Differences over unemployment insurance

On Monday, Democrats and the Trump administration suggested progress over the talks of the next relief package. However, they also acknowledged that several issues still need to be resolved.

House Speaker Nancy Pelosi, Senate Minority Leader Chuck Schumer, Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows met on Saturday as well. The staff-level talks took place on Sunday.

Talking about the negotiations, Pelosi told reporters that discussions were “productive.” Further, she said “we are moving down the track,” but “still have our differences.”

Schumer also made similar comments, saying the talks are progressing. He said a lot of issues “are still outstanding, but I think there is a desire to get something done as soon as we can.”

The urgency to come up with the stimulus package comes as the $600 per week unemployment insurance expired last week. It (unemployment insurance) is also one of the main sticking points between the Democrats and Republicans.

Democrats want to continue with $600 per week in unemployment insurance. Republicans, on the other hand, want to give $200 per week through September.

Coronavirus stimulus deal by August 7?

On Monday, when reporters asked if negotiators made any progress on unemployment insurance, Schumer said Republicans are “sticking to their position.” Pelosi also reiterated on Monday that she wants unemployment insurance of $600 per week at least until the state unemployment rates start to fall.

In a conference on Monday, Pelosi told House Democrats that there may not be any resolution until next week as there is still no consensus on unemployment insurance.

“It is my hope we could do it this week...but probably not until next week,” Pelosi said.

Other differences between the two (Democrats and Republicans) sides are over liability protection and aid to cash-strapped states and municipalities. Democrats are not in favor of liability protections. McConnell, on the other hand, has said that no bill will pass the Senate if it does not have immunity for businesses, doctors and schools.

Democrats, meanwhile, have allocated nearly $1 trillion in aid for cash-strapped states and municipalities. The GOP plan, on the other hand, has no provision for direct relief funds for state and local governments.

Talking about the negotiations, McConnell, on Monday, said: “The speaker of the House and Democratic leader continue to say our way or the highway.”

On when to expect the next coronavirus stimulus checks, Meadows told CBS: “I’m not optimistic that there will be a solution in the very near term."

We now know that the second round of stimulus checks will be part of the next stimulus package, dubbed the CARES Act 2, which Senate Republicans will propose next week. The amount of the proposed stimulus checks is also known, and it will be $1,200. Now we also know that the next round of coronavirus stimulus checks will be sent out in August.

Coronavirus stimulus checks in August

Last week we got confirmation on several important details. These include the presence of stimulus checks in the next GOP package, the amount of those stimulus checks, and the income cap.

Now we also know when people will get the next stimulus check. This information comes from Treasury Secretary Steven Mnuchin, who recently said that their “proposal is the exact same proposal as last time.”

On Saturday, Mnuchin said Republicans are set to reveal their coronavirus relief package on Monday. He also said that their proposal enjoys the backing of the White House.

Mnuchin also promised that another round of $1,200 coronavirus stimulus checks would come in August.

“We’re prepared to move quickly,” Mnuchin said, adding that President Donald Trump would “absolutely” support the GOP package. “We’ll get the majority of them out in August and those will help people,” Mnuchin said, according to the Associated Press.

This is not the first time Mnuchin has talked about sending coronavirus stimulus checks in August.

Mnuchin told CNBC on Thursday, “The president’s preference is to make sure that we send out direct payments quickly so that in August people get more money.”

Mnuchin also reaffirmed that the next round of stimulus checks will follow the same criteria as the first. This means Americans making $75,000 or less will get the full $1,200. Those making more than $75,000 will get less than $1,200, depending on their income, while those with $99,000 or more in income are not eligible for stimulus checks.

What about federal unemployment benefits?

A point to note is that Mnuchin is confident about sending $1,200 checks even when the GOP has yet to present their version of the bill in the Senate. This is likely because Democrats are also in favor of $1,200 stimulus checks. The HEROES Act, which has already passed the House, proposes one-time stimulus checks of $1,200.

Although there seems to be a consensus on the stimulus check amount, the same can’t be said about federal unemployment benefits. Mnuchin told reporters that President Trump is in favor of extending the unemployment benefits.

However, Mnuchin described the $600 weekly aid as “ridiculous,” suggesting they could reduce the federal unemployment benefit amount this time. The federal unemployment benefits officially expire on July 31, but because of how states process unemployment payments, the benefits effectively expired Saturday.

We will hopefully learn the final amount of unemployment benefits and other details of the next package in the coming week. August 7 is the unofficial deadline for the next bill as it is the Senate’s last day in session before its month-long August recess.