Why $1,200 stimulus checks were dropped from December's Covid-19 relief package

Congress plans to keep the next stimulus covid relief package under $1 trillion, according to Garrett Watson, a senior policy analyst at the Tax Foundation. Watch this video to see where the aid will be going and to learn what it means for your bank account. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Another stimulus check most likely won’t happen in 2020, according to Garrett Watson, a senior policy analyst at the Tax Foundation.

The current goal for Congress is to keep the final relief measures of 2020 under the $1 trillion mark, said Watson.

Another round of $1,200 payments would cost north of $300 billion and leave little room for other funding urgently needed across the country. A bill with direct payments would need to be much larger and most likely won’t materialize until President-elect Joe Biden is in office, according to Watson. This would make the passing of major legislation by February an optimistic timeline.

Check out this video for a full breakdown of the current stimulus proposal and to learn about what future legislation may include.

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