Washington, D.C. — A second stimulus check is coming soon, Senate Republicans confirmed in a new coronavirus relief plan unveiled Monday.
Senate Majority Leader Mitch McConnell (R-Kentucky) unveiled a draft plan for the Health, Economic Assistance, Liability Protection and Schools Act (”HEALS Act”) with $1 trillion in funding that includes another round of $1,200 direct payments to most Americans. However, the amount you get may be different from what was outlined in the $3 trillion Health and Economic Recovery Omnibus Emergency Solutions Act (“HEROES Act”) passed in May by the Democrat-led House.
According to Bloomberg, Monday’s GOP legislation includes stimulus checks similar to the first round in March with $1,200 in direct payments to Americans earning up to $75,000 a year, and $500 for each child. The package appears to include adult dependents as well, whereas the first round did not include children age 17 or older, such as college students.
The Democrats’ HEROES Act also included $1,200 in direct payments for adults and $1,200 per child, regardless of the dependent’s age, up to a total of $6,000 per household. A family of four would potentially receive $4,800 under the HEROES Act but just $3,600 under the new HEALS Act.
The money is expected to be sent via paper checks, direct deposit or debit cards, to help those who’ve lost income due to Covid-19.
If Congress reaches a deal by the time the session ends Aug. 7, Americans could start seeing payments in early fall. The first round of payments took about a month to begin arriving in people’s bank accounts after President Trump signed the CARES economic relief package in March.
The money is expected to be sent via paper checks, direct deposit or debit cards, which would likely be delivered faster this time after millions verified their information on the IRS “Get My Payment” site. The IRS recently said it has paid all eligible Americans that it had enough information on for checks from the first round, for a total of $267 billion.
The Senate will continue to debate the HEALS Act this week, which includes a package of separate bills to gives Congress the option of passing parts of the agenda now and others later.
The legislation, which will be the fifth Covid-19 recovery package, also proposes extending unemployment insurance benefits at a lower rate of $200 per week instead of $600; $105 billion in education funding for schools; liability protections for businesses from coronavirus-related lawsuits; extending the Paycheck Protection Program of forgivable small-business loans; $20 billion in farm aid; $1.75 billion for a new FBI headquarters in Washington, D.C.; and tax breaks for businesses with increased costs due to PPE, testing and other precautions.
How much will I get in second stimulus check? You can find out how much you would be eligible for by using the free Omni Calculator tool embedded below. It’s also located on their site here.
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July 28, 2020 at 08:39PM
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Second stimulus checks confirmed in Senate plan: How much will I get? When? - syracuse.com
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