WASHINGTON — After months of on-again, and off-again negotiations, a bipartisan economic stimulus deal appears to be on the horizon. While nothing is official, optimism swept Capitol Hill Wednesday that something could be passed by the end of the week.
The bill would not only provide economic relief but also keep the government open through 2021.
Funding for the federal government officially runs out Friday night at midnight.
STIMULUS CHECKS INCLUDED
The biggest news is that stimulus checks appear to be included in the bill.
While nothing is confirmed, Republican Senator John Thune of South Dakota told reporters that the checks would be around $600-$700 per person, which is about half as much as last time.
Whether or not you are eligible for a stimulus check will likely depend on your income, just like last time.
WHEN COULD YOU GET IT?
If Congress is able to pass a bill by Friday night, checks could theoretically be deposited into millions of accounts by New Year's Eve. That's because unlike last time, the IRS has already built the computer program to distribute checks and staffers have experience.
This is what Treasury Secretary Steven Mnuchin said back in August about how quickly he could send out the checks.
"I can have them out immediately," Mnuchin said.
"If I could get that passed tomorrow. I could start printing them the following week," Mnuchin told reporters at the White House in August.
"I can get out 50 million payments immediately," Mnuchin added.
Just like last time, if the federal government does not have your bank information on file, debit cards and paper checks would likely take several more weeks.