When Would The IRS Send Second Stimulus Checks If Bill Is Passed?

Stimulus Checks With President Trump's Name Sent Out To Americans

Stimulus Checks With President Trump's Name Sent Out To Americans

second stimulus payment will form a big part of CARES 2, the Senate Republicans' plan for the next economic rescue package, set for an unveiling today. However, anew check for up to $1,200 won't arrive immediately, even in the best circumstances.

Treasury Secretary Steven Mnuchin said Saturday that the checks will be sent out in August. "We're prepared to move quickly," he said, but didn't offer a more specific date. That's because the checks will have to go through at least one round of negotiation before both chambers of Congress agree and advance the legislation to President Donald Trump for final approval.

We don't know how long it'll take from the time the bill is signed into law to the time the IRS sends checks, but we can sketch out possibilities based on the first CARES Act's journey through the final approval process.

WHEN COULD THE SECOND STIMULUS CHECKS GO OUT?

Date passed by Senate

Date passed by House

Date signed

First checks sent

Original CARES Act

March 25

March 26

March 27

April 15

Proposal date

Negotiations begin

Negotiation time before deadline

Deadline to pass a bill

CARES 2 Act

July 27

July 28?

7 or 8 days

Aug 7

If Senate passes

If House passes

If President signs

First checks could be sent

Final negotiated bill

Aug. 6

Aug. 7

Aug. 10

Week of Aug. 24

Sept. 8

Sept. 9

Sept. 10 or Sept. 11

Week of Sept. 28

Source:Cnet.com

Photo:Getty

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