Stimulus package 2.0 are in talks and have may be coming soon, but how fast will it take to go out? It will need to pass the house, senate and finally the President's approval before the IRS will take action. The last stimulus which came with the CARES Act, the president signed the law on March 27 and it took less than 3 weeks before the cheques were sent out.
It is important to note that the Senate has two planned recesses that limits the time frame of the stimulus payout to just a 20 day window period this summer.
July 3 to July 17: The Senate takes a planned recess starting Friday, July 3 and returns to work Monday, July 20 until August 7th.
Aug. 10 to Sept. 7: The Senate will be on its August recess, which lasts through Labor Day on Monday, Sept. 7.
If congress does not pass the stimlulus package before the august recess, it will be until september before it gets revised and eventually passed to the President's office.
See article from CNET on full recess details.
While there's a chance that the Congress may convene during their break, the pandemic must be in critical stages before such a senatorial anomaly occurs.
Will it be in time and will it be enough before the before the floodgates open?