$75 billion in stimulus payments now distributed; Is a second stimulus package far behind?

During the week ending June 28, the Treasury Department has reported having distributed almost 10 million economic stimulus payments, totaling over $8 billion. This brings the total number of economic stimulus payments distributed to 90 million, totaling over $75 billion.

Second stimulus package?

Could a second round of stimulus assistance to help the economy be on the horizon? Despite previously announced opposition to a second wave of stimulus assistance by the Bush Administration, Senate Democrats are in the planning stages of crafting a second economic stimulus package, which could be considered as soon as Congress returns in July from its Independence Day recess.

With the prospect of passing a second stimulus package, Democrats are eyeing the legislation to contain provisions that were taken out of the first stimulus package, such as funding for infrastructure projects, expanding unemployment benefits and providing aid to state and local governments.

Democratic presidential nominee Sen. Barack Obama, D-Illinois, has also proposed a second round of stimulus assistance. Obama's $50 million proposal includes an expansion and extension of unemployment benefits, aid to state and local governments, foreclosure assistance, and a second round of tax rebate checks.