Second Stimulus Checks Back on the Table
Hours after pulling out of negotiations for another economic stimulus bill, President Trump calls for immediate action on a second round of stimulus checks.
Wait, what? President Trump is now calling for immediate action on a second round of stimulus checks? Yes, it's true!
Literally hours after pulling out of negotiations for a comprehensive economic stimulus bill that would have most likely included another round of $1,200 payments to most Americans, the president sent a tweet Tuesday evening asking for legislation authorizing more stimulus checks. (His tweet halting negotiations for a stimulus bill was just days after another tweet supporting such a bill).
"If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY," Trump tweeted late on Tuesday. "I am ready to sign right now." In a separate tweet, the president also called for $25 billion in additional aid for the airline industry and $135 billion of new funding for the Paycheck Protection Program, which he said would be paid for with unused funds from the CARES Act.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free 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.
This represents a hard turn towards a piecemeal approach to providing additional economic support. In other words, passing separate bills for particular benefits instead of having one large bill. House Speaker Nancy Pelosi and other Democrats have consistently rejected this approach.
Time is Running Out
If a deal on any additional economic relief is going to be reached before the November 3 election, it must happen soon. The House is already in recess (although they could be brought back for a vote), and Senators will leave Washington next week. The Senate is also focusing on the confirmation process for Amy Coney Barrett, who was nominated by Trump to fill Justice Ruth Bader Ginsburg's seat on the U.S. Supreme Court.
If an agreement can't be reached before the election, a second round of stimulus checks might have a better chance of passing during a post-election lame-duck session of Congress. If that doesn't happen, the new Congress that convenes in January might have better luck. But that would depend largely on the outcome of the elections and who is in control of the White House and Congress next year.
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.
-
3 Ways High-Income Earners Can Maximize Their Charitable Donations in 2025Tax Deductions New charitable giving tax rules will soon lower your deduction for donations to charity — here’s what you should do now.
-
An HSA Sounds Great for Taxes: Here’s Why It Might Not Be Right for YouHealth Savings Even with the promise of ‘triple tax benefits,’ a health savings account might not be the best health plan option for everyone.
-
New RMD Rules: Can You Pass This Retirement Distributions Tax Quiz?Quiz Take our RMD quiz to test your retirement tax knowledge. Learn about RMD rules, IRS deadlines, and tax penalties that could shrink your savings.
-
Ten Retirement Tax Plan Moves to Make Before December 31Retirement Taxes Proactively reviewing your health coverage, RMDs, and IRAs can lower retirement taxes in 2025 and 2026. Here’s how.
-
When to Hire a Tax Pro: The Age Most Americans Switch to a CPATax Tips Taxpayers may outsource their financial stress by a specific age. Find out when you should hire a tax preparer.
-
The Original Property Tax Hack: Avoiding The ‘Window Tax’Property Taxes Here’s how homeowners can challenge their home assessment and potentially reduce their property taxes — with a little lesson from history.
-
Social Security Tax Limit Rises Again: Who Pays More in 2026?Payroll Taxes The Social Security Administration has announced significant changes affecting millions as we approach a new year.
-
Three Critical Tax Changes Could Boost Your Paycheck in 2026Tax Tips The IRS predicts these tax breaks may change take-home pay in 2026. Will you get over $1,000 in tax savings?


