قالب وردپرس درنا توس
Home / Tips and Tricks / House passes a second $ 2,000 stimulus check. What now?

House passes a second $ 2,000 stimulus check. What now?



    083-cash-money-dollars-bills-stimulus-check-congressional-pass-mail-banking-finance-desperate-poverty-us-treasury

After months of negotiation, the American stimulus package is over, including a second stimulus check. Now Congress is weighing a larger amount.

Sarah Tew / CNET

Monday afternoon, the House of Representatives voted to increase the just-approved stimulus payments from $ 600 to $ 2,000 per person. The house-approved CASH law now moves to the Senate. Monday’s vote in the House followed that of President Donald Trump signing of the $ 2.3 trillion federal budget and COVID relief law combination on Sundays, which authorized the checks for up to $ 600 each eligible adults and children.

The CASH Act – short for Caring for Americans with Supplemental Help Act – would change the amount each eligible adult and child received in the newly signed law from $ 600 to $ 2,000 each.

In addition to authorizing a second stimulus check for $ 600, the two-party package Trump signed on Sunday, renewing programs for both Democrats and Republicans agree are critical, including $ 300 federal unemployment benefits, money to help small businesses meet their employees’ payroll, a month-long extension to the end of January of a federal deportation ban, and help to corona vaccine.

Immediately after signing the bill on Sunday, Trump began pressuring Congress to quickly approve the larger $ 2,000 payments. “As president, I have told Congress that I want much less wasteful spending and more money is going to the American people in the form of $ 2,000 checks per adult and $ 600 per child.”

Trump’s reversal in approving the emergency came at the end of a weekend when US leaders, from President-elect Joe Biden to Senators Pat Toomey and Bernie Sanders, criticized Trump’s delay in signing the package into law. While Congress passed the legislation last Monday, Trump waited until Sunday to sign it.

“The compromise law isn’t perfect, but it will do a tremendous amount of good for the struggling Kentuckians and Americans across the country who now need help,” Senate Leader Mitch McConnell tweeted minutes after Trump signed the law.

However, the possibility for a $ 2000 check is hanging by a thread. Now that the House has approved the increase, the proposal will be moved to the Senate, which will be discussed on Tuesday. It is not clear whether the Republican-led senate will accept the proposal for a larger payment.

Biden called the incentive portion of the joint package a “ first step and down payment, ” predicting a higher bill after he sworn in — including a third stimulus check.

House voted in favor of the second $ 2,000 stimulus check on Monday

Now that the House of Representatives has passed the Cash Act (PDF) to pass the $ 2,000 second incentive payment per qualifying adult and dependent, it’s about the Senate to consider. It is not clear whether the legislation will be voted on in the Senate. It all depends on whether Trump will continue to hold sway with Senate Republicans in his last weeks before that Biden is sworn in as president, or that a check for $ 2,000 – which could significantly increase the size of the COVID-19 emergency allocation – will split the lot.

“If the president is serious about $ 2,000 direct payments, he should call on House Republicans to end their obstruction,” Pelosi said on Dec. 24. Monday, I will return the House to the session where we will have a recorded vote on our standalone bill to increase the economic impact payments to $ 2,000 … Hopefully the President has already got it bipartisan and bicameral legislation to keep the government open and help with the coronavirus. “

Democrats advocate all summer and fall for a bigger one second stimulus control as part of a wider aid package. Trump distanced himself from the negotiations and his administration’s negotiator, Treasury Secretary Steven Mnuchin, offered the $ 600 ceiling for the second stimulus control totals.

Republican and Democratic lawmakers approved the two-in-one omnibus package by overwhelming margins on Dec. 21, after months of frustrating on-and-off negotiations.

As we monitor the situation closely, read on to learn more about the amount of the $ 2,000 stimulus check (the figure was pushed forward by some Democrats in mid-2020), the scenarios that could play out next, and what we know about one third stimulus check for 2021. This story is often updated with new information.


Now playing:
Look at this:

Second stimulus checks: everything you need to know


3:22

Trump’s $ 2,000 stimulus check figure is entering familiar territory

Since the spring, several Democrats have proposed a $ 2,000 incentive check, including vice president Senator Kamala Harris, sens. Bernie Sanders and Ed Markey and a one-time presidential hopeful (and now hopeful New York mayor) Andrew Yang. Some supporters of this figure have even suggested sending checks on a monthly rather than one-time basis.

Biden already supports a third stimulus check

Many American leaders appear to be the $ 900 billion incentive bill as a precursor to a larger aid package in 2021, one that might be include a third stimulus check and other provisions that Republicans and Democrats agreed to omit this round to strike a critical deal.

“This bill is just the first step, a down payment, to address the crisis – crises, more than one – that we are in,” Biden said Tuesday, emphasizing that he would like to see a third stimulus check.

How fast can the IRS send your payment?

Aid could start to go out in the next week, with certain funding programs potentially receiving financial aid before the end of 2020. On December 21, the Treasury Secretary Steven Mnuchin set the goal of making payments through the following week direct deposit to people who qualify for one second stimulus control to receive their payment intended to bring direct cash flow to tens of millions of Americans.

Due to the delay in signing the bill, the timeline can shift as agencies need time to set up their processes and communicate with recipients about what to do or expect.

You can now calculate your second stimulus check total. Here’s what payment group you may be in. This is what we know how soon we think the IRS could send a second stimulus check, and there are more details on this weekly unemployment insurance.

101-cash-money-dollars-bills-stimulus-check-congress-pass-mail-banking-finance-desperate-poverty-us-treasury

A vote can be taken on the new stimulus package soon.

Sarah Tew / CNET

Why didn’t the bill include a second $ 1,200 or $ 2,000 stimulus check?

A second stimulus control has had widespread bipartisan support since the CARES Act was passed. In recent months, everyone from Trump and Biden to members of Congress, economists and ordinary people have argued for another direct payment.

Trump has previously called for “more money than they are talking about” in stimulus checks as large as $ 1,200 or $ 2,000 per person. Aides allegedly convinced him at the time that making such demands would jeopardize a stimulus bill, The Washington Post reported, and the White House offer was officially extended to $ 600.

While many are in favor of a $ 1,200 direct payment in theory, a second smaller stimulus check has helped keep costs below the $ 1 trillion mark that Republican lawmakers said in the past they would support.

Stimulus control isn’t cheap. The IRS said this summer it had spent $ 270 billion sending 160 million checks, and on Dec.15, Senator Mitt Romney, a Republican involved in drafting the bipartisan stimulus proposal, predicted a cost of $ 300 billion if the checks were again included at $ 1,200 per person. Republicans are said to have curbed the charges.

For more information on stimulus controls, here how quickly you now get your second stimulus check, what to do to speed up the delivery of a possible second check and what you need to know about the HEALS, CARES and Heroes proposals for incentive laws that can help inform a final package.




Source link