The United States Senate rejected the new stimulus proposal on Sep.10, which did not include a new round of $1,200 checks. However, this boosts the chances of a new proposal with individual checks getting approved, and could serve as a catalyst for Bitcoin (BTC).
Why was the stimulus proposal rejected, and why could it be a good thing?
The new proposal, dubbed a “skinny” stimulus bill, was rejected with a 52-47 Senate vote. Republican Senator Rand Paul, along with Senate Democrats, blocked the new package that did not include $300 billion for stimulus checks.
Both Republicans and Democrats rallied for a new round of direct stimulus checks in recent months. When a bill without small business support and individual checks was presented, the Senate rejected it.
There is a high probability that the Senate would approve a bill that includes direct payments by the month’s end. If the bill had gone through with no direct payments, it would have