Democrats in Congress are criticizing how millions of economic impact payments authorized under the CARES Act are being handled.
The GOP legislation includes a second tranche of stimulus payments, structured the same way as the earlier round, in March, along with tax credits for businesses.
Senate Republicans presented a series of bills that would trim unemployment benefits, send $1,200 to most Americans, and shield businesses, schools and other organizations from coronavirus lawsuits.
Senate Majority Leader Mitch McConnell waited until a key component of U.S. coronavirus aid was about to expire before drafting the Republican version of the next major relief bill, a decision that is increasingly looking like a significant miscalculation.
The 160 million Americans who got stimulus checks earlier this year would get another payment as soon as next month under a plan being negotiated by Treasury Secretary Steven Mnuchin and Senate Majority Leader Mitch McConnell.
Any boost for workers from a payroll tax cut that President Donald Trump favors would take weeks to kick in and the effects could be distributed unevenly.
Republicans and the White House are counting on Senate Majority Leader Mitch McConnell reconciling GOP differences with a draft coronavirus relief package that they can take into negotiations with congressional Democrats.
Massachusetts Society of CPAs president and CEO Amy Pitter is spearheading a group of 28 state society heads who have sent a letter to congressional leaders.
People who aren’t required to file a U.S. tax return have less than three months to alert the Internal Revenue Service if they haven’t yet received a $1,200 stimulus payment from the government, Commissioner Chuck Rettig said.
Republicans crafting their own plan for a new U.S. virus-relief bill broadly endorsed a fresh round of stimulus checks to individuals, extended supplemental jobless benefits and more money for testing while voicing doubts over President Donald Trump’s desired payroll tax cut.