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Third stimulus check: Would it be greater than the second $ 600 payment now being spent?



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President-elect Joe Biden had already set his sights on a third stimulus check.

Sarah Tew / CNET

Will the US be one third stimulus check? The IRS and the Treasury are in a rush sending a second stimulus check to millions of qualified people from now until January 15th – that is a deadline you should know – but there is already a third payment. President-elect Joe Biden has committed to the concept of a new stimulus check as part of a larger COVID-19 aid package than the stimulation law signed by President Donald Trump on December 27.

“This bill is just the first step, a down payment, to address the crisis – crises, more than one – we find ourselves in,” Biden said on December 22 in the closing days of the negotiations. When a reporter asked if a future package would include the third stimulus check and how much money he would be looking for, Biden said, “That’s a negotiation issue … But it will, yes, it will.”

Like it everything related to stimulus controls, the situation is complex. In the last days of 2020 through January 1, Trump, Congressional Democrats, and a few Republicans tried to push the $ 600 per person cap in the second stimulus control up to $ 2,000 per eligible adult. That last ditch effort failed, but it is introduced the upper limit of $ 2,000 per person in a serious way. Scattered lawmakers had suggested the figure before, but it never gained traction.

So a third stimulus would control top out at $ 600 like the second check$ 1,200 like the first payment, $ 2,000 or some other amount? And does it have a chance to succeed? We’ll share what we know leading up to Biden’s inauguration on January 20. (And here’s how calculate the size of your second stimulus control.)

The Senate election on January 5 in Georgia is key

Since November, analysts have noted that the Jan. 5 second election for two seats in the Georgia Senate has had too much weight in the country’s political priorities through 2021 and beyond. If both Senate seats go to the Democrats, that party wins the Senate by a majority whisper, with a 50-50 split and a vice president elected cutting all ties.

If the GOP retains one or both seats, it will remain in Republican hands. Either way, Biden will be working with a deeply divided government.

So far, more Democrats have backed a bigger stimulus check and bill than their Republican counterparts, although there are some notable exceptions. We will have to wait and see what happens. The count can take weeks, especially if results are disputed.


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The “problem” with the $ 600 stimulus check

With a first incentive check of $ 1,200 per person, supporters of a larger check criticize recipients of a second check receiving much less, but there’s more to it. Because the upper limit for a second check is $ 600 per adult, with an extra $ 600 per child depending, the route the IRS formula works, more people will hit the income threshold for receiving a second payment, and that means they will is actually not eligible for incentive money all the way.

With that in mind, a third stimulus check could take a variety of angles, from addressing some of the population who would have missed the second stimulus check, to potentially sending a new wave of economic relief to those in the greatest financial difficulties.

Again, a lot can depend on it who gains control of the Senate, and what the new Biden administration sees as its goals in rebuilding an economy weakened by the corona pandemic.

What else could there be in a new incentive law for 2021?

We already know a few of them Biden’s early economic stimulus targets, which he shared as part of his presidential campaign trail. Chances are he would prompt Congress to reconsider those agenda items, in addition to several programs dropped in December $ 900 billion bill by both Republicans and Democrats.

They can include measures such as:

  • A larger third stimulus check that could reach more people.
  • Federal unemployment controls last March.
  • It deportation ban last January 31.
  • Student loan deferral or forgiveness for public schools.
  • More money for national, local and tribal governments.
  • More money for contact tracking, coronavirus testing and Covid-19 vaccine distribution.
  • Liability protection for companies against lawsuits related to the coronavirus.

For more information, here’s how calculate the payment of your second stimulus check, that may not qualify for a check and a primer on the five different priority groups.


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