Wait Continues for Stimulus Checks as Congress Avoids Government Shutdown
Last night, congress passed a spending bill that would allow for the government to remain open until December 11th.
That, for Erie is good news. What isn't good news, however, is continued wait over a potential second stimulus bill.
Lawmakers are now also concerned that the Treasury Department does not have the adequate data to be able to include every eligible person in a potential second stimulus check. Congress has yet to come to a resolution on what a second COVID-19 relief bill might look like.
In our area, local business experts are concerned that the longer a stimulus check doesn't reach the hands of residents, the more and more businesses will struggle.
"Small businesses, in particular often times don't have any cash reserves", said Jake Rouch, Erie Regional Chamber VP of Economic Development. "A lot of the time they're younger".
Rouch also noted that because of a lack of income, data is showing that several residents are reluctant to spend money to eat at local restaurants and patronize businesses, which he says is creating a vicious cycle for owners.
"For them, when you get into any type of change in consumer and customer behavior, you immediately affect the revenue coming in their doors", said Rouch. Rouch doesn't blame people for wanting to save during the pandemic, but says local businesses are affected regardless.
Right now, there is no agreement in place for a second stimulus bill. Some of the most recent proposals have not included a second check. The first stimulus payment was $1,200 for most eligible individuals.
This story was supported by the Economic Hardship Reporting Project.