قالب وردپرس درنا توس
Home / Tips and Tricks / A second stimulus check for $ 1,200? What we know about the round 2 proposal

A second stimulus check for $ 1,200? What we know about the round 2 proposal



  money-bills-wallet-coins-dollars-0939

Washington is already working on a second round of incentive payments for US taxpayers.


Angela Lang / CNET

Visit the WHO website for the latest news and information on the coronavirus pandemic.

On the heels of the first coronavirus stimulus checks Washington is considering a second round of payments as part of an even larger relief package. The current proposal, called the Heroes Act, would raise additional funds of up to $ 1,200 per person to further help support a flagship US economy . The package is worth $ 3 trillion in total and has passed the House of Representatives and is now before the Senate.

Economic warning bells keep ringing. In last week's Senate testimony, Federal Reserve Board of Governors chairman Jerome Powell called for additional economic relief. Last week, the U.S. Bureau of Labor Statistics reported that 38.6 million Americans were seeking unemployment benefits (PDF) in the past 10 weeks. This week, a top White House economist warned that unemployment could rise to 20% in June. This is already the case in some US states. The International Monetary Fund predicted a deep global recession that could become the worst since the Great Depression.

Several things can happen at this point. The bill could be signed as such (which is probably not likely), or it could be another aid package through two-way negotiations. It can also fail and a new proposal will replace it. There is hope that some proposal for a second stimulus will succeed. The White House has said it would support a second stimulus check, according to CNBC.

We will outline the main things you need to know, including how much money you would expect to receive, common arguments for and against the proposed action and what happens next. This story is regularly updated in the light of new information and is intended to provide an overview of the situation. If you are waiting for your money, you can track the status of your stimulus check with the IRS and use a free USPS service to see when your check arrives . We also know some possible reasons why you have not yet received your stimulus control .

  http://www.cnet.com/ "height =" 110 "width =" 196


Now playing:
Watch this:

Stimulus Checks Helpline



2:58

Heroes Act: How Much More Money Can I Get?

The Heroes Act includes a wide variety of benefits, such as a second direct payment to individuals and households of up to $ 1,200 per family member, according to an information sheet from the House Appropriations Committee (PDF).

The limit of $ 6,000 per household is higher than the first round of stimulus and would increase the allowance per dependent from $ 500 to $ 1,200, with a maximum claim of three dependents. So, if five people in the household qualify for $ 1,200 each, the family would receive $ 6,000 in promotional money.

You could also claim children aged 17 and over, a departure from the first stimulus law, which skipped 17-year-olds and some students . The Heroes Act further proposes that a group of dependents and eligible non-citizens receive retroactive payments to offset the initial incentive check that has passed.

The Heroes Act would also include the current increased unemployment benefit of $ 600 per week (on top of the & # 39; typical unemployment benefit & # 39;) until January 2021. However, that detail is already disputed. In addition, the bill is intended to set aside money for troubled companies, the US Postal Service and corona virus testing fees .

Passing the House of Representatives, which is controlled by a democratic majority, is a step from bill to law, but does not guarantee that the second bill will pass the next stage: approval by Republican-controlled Senate.

  coronavirus-closed-business-restaurant-0033 "data-original =" https://cnet4.cbsistatic.com/img/VxvgaoIeQ0cBWWu9sShCrmofe_Y=/2020/04/23/41822fb5-1e78-4b73-95de-b3855a365a51/coronavirus -closed-business-restaurant-0033.jpg

The hope is that a second incentive check would help keep individuals and small businesses solvent.


Angela Lang / CNET

The argument for a new round of stimulus checks

The proposed legislation is a self-proclaimed "bold response to the coronavirus pandemic and economic collapse," the House factsheet said. The financial support is intended to absorb "the economic blow of the corona virus crisis".

The goal of a second IRS stimulus check is in part "to put much needed money in the pockets of the American people," Pelosi said in a recorded statement. You can see her talking about the legislation here.

Since mid-March, more than 38 million American workers who lost their jobs have filed for unemployment. The actual number of unemployed since governors and mayors shut down their states and cities to stop the spread of the coronavirus is likely to be higher – perhaps millions higher – because many eligible people were unable to make an unemployed claim. With the job losses, the nation's unemployment rate reached 14.7%. The newly unemployed, and others hit economically by the pandemic, would benefit if they now have more money to spend.

  07-bag-of-groceries-home-whole-food-paper "data-original =" https://cnet2.cbsistatic.com/img/s4nLxd8NcD1OarrgL8Jx90YEsHA=/2020/03/30/ac1de784-ee0f -4260 -b490-02f88fa12050 / 07-bag-of-groceries-home-whole-food-paper.jpg

For many, the stimulus check will help to pay the rent and groceries.


Sarah Tew / CNET

The Argument Against a Second Wave of Aid Payments

Some in Washington, including Senate Majority Leader Mitch McConnell, question whether the prior emergency measures have reached their targets and are holding back before approving more federal spending about the effects of the already approved childcare packages. McConnell and others are also concerned with how additional stimulus packages will widen the historic federal deficit.

"So let me say the obvious," tweeted John Barrasso, a Republican Senator from Wyoming, last Tuesday . & # 39; What Nancy Pelosi proposes, the Senate will never pass. & # 39;

Since that payment is available in addition to regular unemployment benefits and increased unemployment benefits of $ 600 a week, some critics have said that it will make unemployment harder in the future if people don't feel stimulated to return to work. The original emergency measure also provides a 15% increase in federal food aid under the supplementary nutritional assistance program.

What will happen next

It is not clear when the Senate will make a decision on the Heroes Act, although negotiation is expected to revise the content of the bill.

It is widely believed that Republicans will continue to oppose the bill and may work with The White House on their own stimulus package. Senate majority leader McConnell said that more help may be needed, but it may take a different form than the House bill. Congress is also working to make it easier to forgive small business loans that are part of the Cares Act passed in March.

Note that every second stimulus package that passes both the House and the Senate still needs a signature from President Trump before it can take effect.

We will update this story with new information as soon as it occurs. Although the future of a second incentive bill is still inconclusive, we would like to share the available resources on unemployment insurance what to do if you lose your job what to know about evictions and late car payments and how you can take control of your budget .


Source link