Stimulus Check Update 10-26-20: BREAKING NEWS Stimulus Package Negotiations Stimulus Check Holiday

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Here’s your daily stimulus check, your second stimulus check, your executive action, order, memorandums, moratoriums and stimulus package update for Monday, October 26th, 2020 (10-26-20).

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Financial experts and the Federal Reserve are worried about the state of the economy if another stimulus package isn’t approved soon.

Fed Chairwoman Janet Yellen explained: “This is not a good time to have fiscal policy switch from being accommodative to creating a drag.”

Fed governor Lael Brainard echoed Yellen’s comments, adding: “Premature withdrawal of fiscal support would risk allowing recessionary dynamics to become entrenched.”

Along with the countless economists and financial experts that we’ve talked about for months, that have been requesting more stimulus to boost the economy, I hope Congress can actually listen to the Federal Reserve and get us more stimulus funds soon.

Meanwhile, the IRS recently announced "National EIP Registration Day," which will take place on November 10th.

This awareness day hopes to get as many eligible Americans as possible to register for their first $1,200 stimulus check, before the deadline on November 21st.

IRS Commissioner Chuck Rettig explained: "Our partner groups have been a critical part of the unprecedented IRS outreach and education campaign this year to contact as many people as possible about these payments."

He continued: “As a result, millions of Americans have successfully used the Non-filers portal and received their Economic Impact Payment. Registration is quick and easy, and we urge everyone to share this information to reach as many people before time runs out on November 21."

If you never received your first $1,200 stimulus check, make sure to visit the IRS website and see if you are eligible to receive these funds before it’s too late.

Finally, talks are still continuing between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi on another stimulus package, but it’s looking more likely that we won’t see any funds before the election next week.

A 2:00 PM meeting between Mnuchin and Pelosi is planned for today, which will be their first discussion since Wednesday, and hopefully they can get on the same page and approve the highly anticipated Phase 4 disaster relief bill.

White House economic adviser Larry Kudlow explained earlier today that both sides “have narrowed,” but “the more it narrows, the more conditions come up on the other side.”

While it’s unlikely that a new stimulus package could be approved and funds hitting bank accounts before the election, I just hope that they can agree to terms on a new stimulus bill before next Tuesday, so that regardless of the election, we’ll know we have stimulus coming.

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