Millions of Americans are waiting for the possibility of a next round of stimulus checks, but Congress still is trying to decide what it will look like, how much will be included in each check and who receives the money.
The current session of the Senate runs until Aug. 7, so a decision will have to be made before then on how much can be done before the Senate comes back on Sept. 8. According to a report from CNET, the start of the break could be pushed back if a deal is not reached.
There are multiple different ways these stimulus checks could look once the Senate reaches a decision.
According to Forbes, the most likely option is that another $1,200 check will be cut for adults making less than $75,000 a year and $500 for each additional child. Adults making over $75,000 would have it reduced $5 for every $100 of gross income above the limits. The report also said that Senate Republicans removed the age limit, which would allow anyone 17 and older to get the check, including high school, college and adult dependents.
The report said that Democrats are pushing for $1,200 per dependent on top of the $1,200 per person, again capping the annual income at no higher than $99,000 for an individual or $198,000 for a married couple. An alternative proposed by other Senate Republicans would have a check of $1,000 for each individual earning less than $75,000, including children regardless of age. So for example, a family of four would receive $4,000.
The last option in the report was proposed by Sens. Bernie Sanders, Kamala Harris and Ed Markey would have each individual earning less than $100,000 in annual income receiving a check for $2,000, including children regardless of age. The amount would be phased down up until $120,000.
For those hoping to get the second stimulus check, it could be a quick turnaround from after it gets signed. CNET reports that if it is signed on Aug. 7 and President Donald Trump signs it on Aug. 10, the checks could be headed out as early as the week of Aug. 24.
However, the report notes that if a deal is not reached until Sept. 9 and signed by the president on Sept. 11, it would not be sent out until the week of Sept. 28.
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August 02, 2020 at 01:05AM
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Second stimulus checks: When could it be coming? How much will you get? - PennLive
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