Second Stimulus Check Appears Dead After Trump Pulls Out of Negotiations
President Trump instructs his White House representatives to halt negotiations for another economic stimulus bill until after the election.


It doesn't look like we're going to get a second round of stimulus checks any time soon. After a recent period of optimism following President Trump's Covid-19 diagnosis, the president is pulling the plug on further negotiations until after the November 3 elections.
In a string of Tweets on Tuesday, Trump accused Pelosi of "not negotiating in good faith" and announced that he has instructed White House representatives to "stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill that focuses on hardworking Americans and Small Business."
The move came as a surprise, since there was reason to believe that Democrats and Republicans were inching closer to a deal. Pelosi seemed more optimistic about reaching an agreement after the president's diagnosis, saying on MSNBC that it "kind of changes the dynamic." Plus, from the hospital, the president publicly urged Democratic and White House negotiators to reach a deal on an economic stimulus bill. That was just three days before cutting off negotiations.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Stock Market Takes a Hit
The stock market dropped quickly after the president announced the end of negotiations. The Dow Jones Industrial Average, which was up by 205 points at one point before the announcement, closed 375 points (or 1.3%) lower for the day. The S&P 500 declined 1.4% to 3,360. For more details, see Stock Market Today: Trump Pulls the Plug on Stimulus, Stocks.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Rocky Mengle was a Senior Tax Editor for Kiplinger from October 2018 to January 2023 with more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, Rocky worked for Wolters Kluwer Tax & Accounting, and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky holds a law degree from the University of Connecticut and a B.A. in History from Salisbury University.
-
Humana to Cut Prior Authorizations for Medicare Advantage Plans by 2026
Humana, the second-largest provider of Medicare Advantage Plans, has pledged to streamline the often frustrating Prior Authorization process.
-
July Fed Meeting: Live Updates and Commentary
The July Fed meeting could be a lively economic event, with Wall Street keyed into what Fed Chair Powell has to say about interest rates and President Trump.
-
Five Ways Trump’s 2025 Tax Bill Could Boost Your Tax Refund (or Shrink It)
Tax Refunds The tax code is changing again, and if you’re filing for 2025, Trump’s ‘big beautiful’ bill could mean a bigger refund next year, a smaller one, or something in between. Here are five ways the new law could impact your bottom line.
-
New SALT Deduction Could Put Thousands Back in California Homeowners’ Pockets
Tax Breaks The federal state and local sales tax (SALT) deduction cap is higher this year, and could translate into bigger savings for Golden State homeowners.
-
Three Surprising Ways Trump’s New Tax Law Could Change Your Child’s Money Story
Tax Tips The Trump tax bill could help your child with future education and homebuying costs. Here’s how.
-
Why Your Summer Budget Feels Tighter: Tariffs Push Up Inflation
Tariffs Your summer holiday just got more expensive, and tariffs are partially to blame, economists say.
-
Alabama Tax-Free Weekend 2025
Tax Holiday Here’s everything you need to know about the 2025 back-to-school Alabama sales tax holiday.
-
Key 2025 Tax Changes for Parents in Trump's Megabill
Tax Changes Are you a parent? The so-called ‘One Big Beautiful Bill’ (OBBB) impacts several key tax incentives that can affect your family this year and beyond.
-
‘I Play Pickleball in Retirement.’ Is It HSA-Eligible?
Retirement Tax Staying active after you retire may be easier with these HSA expenses. But there’s a big catch.
-
Mississippi Tax-Free Weekend 2025
Tax Holiday Just in time for Prime Day, Mississippi celebrated a tax holiday in July. Find out what back-to-school essentials were included.