All hopes of a stimulus package before the election have all but vanished. Now, everyone seems to believe that the lawmakers will definitely pass a package after Election Day. However, there are several ways in which the election results may impact the next coronavirus stimulus package and checks.
Election results to determine the type of package
The attitude of the lawmakers post-election would tell a great deal about how willing they are to come up with the stimulus package. Any change in the majority of the Senate or House of Representatives, or both, may either push the members or discourage them from working on the package. The same thing is true for whoever wins the presidency as well.
Republican Whip John Thune said something similar last week. "The motivation level on both sides will depend on how the election comes out," Thune said, as per The Hill.
Another change we could see is in the type of stimulus package that lawmakers adopt. It is possible that the side that wins the election goes for the broader stimulus package that includes everything, such as stimulus checks.
There are also chances that the lawmakers go for targeted relief packages, like for airlines, small businesses and others. Last month, Senate Majority Leader McConnell introduced two so-called “skinny proposals” for votes in the Senate. The House Democrats, however, blocked both of the bills.
The election results will also determine when the lawmakers would pass the stimulus. Though Donald Trump and Nancy Pelosi want the package soon after the election, it isn’t clear exactly when the package could come.
Mainly there are two time periods when the stimulus package could come – the "lame duck" session from Nov. 4 to Jan. 19, and after the presidential inauguration on Jan. 20. Trump wants to come up with the package “immediately after the election" if they win the election.
Pelosi also intends to come up with the package as soon as possible, but says she wants "a clean slate" if Joe Biden wins the presidential election. McConnell, last week, said that he would want the lawmakers to consider the next package early next year.
"I think that'll be something we'll need to do right at the beginning of the year," he said on Hugh Hewitt's radio program.
The election results could also determine the eligibility criteria of the next round of stimulus checks. Both Democrats and Republicans have come up with their proposals for the stimulus checks. Though most terms they proposed are similar to the CARES Act, they differ from the CARES Act on some points as well.
For instance, Democrats want to give $1,200 in dependent payments, while Republicans initially proposed $500 in dependent payments. Also, the two sides proposed different language as to who may qualify as a dependent.