Congress is working on a second stimulus plan and here are some possible dates, qualifications, and amounts you could see in another direct payment from the government.
As some states are rolling back parts of their opening, the need for a stimulus check to replace lost incomes has now become all the more urgent.
Both the Senate and the House of Representatives are hammering away to approve a deal, with the blessing of the White House, to send a second stimulus check to Americans by the end of July.
Using the first stimulus as a model, CNET has formulated a possible timeline.
The Senate returns from a two-week recess on Monday and has another scheduled break coming. That basically leaves a 15-working day limit from July 20 until August 7 to develop, hash out and pass another stimulus package before the final day of the current session on August 10, when the Senate takes another recess until September 7. If no deal is worked out, the matter will be taken up when the Senate returns on September 8.
“We will be having bipartisan conversations about supplemental relief legislation and hope Congress will pass an additional package by the end of this month,” Treasury Secretary Steven Mnuchin said before a House committee on July 17.
A day earlier, House Speaker Nancy Pelosi also stressed the urgency: “We can’t go home without [new legislation].”
Senate Majority Leader McConnell and House GOP leader Kevin McCarthy were set to meet with Trump and Treasury Secretary Steven Mnuchin on Monday “to fine-tune” the legislation, acting chief of staff Mark Meadows said during an interview with Fox.
Reportedly, McConnell was ready to roll out a $1 trillion package, but the White House was allegedly not in favor of more virus testing money and was advocating other priorities.
According to reports, McConnell had been part of a package that was being quietly developed behind closed doors for weeks and it included a fresh round of direct $1,200 cash payments to Americans, $75 billion to help schools reopen, reduced unemployment benefits alongside and a five-year liability shield against coronavirus lawsuits.
Monday, July 20, is the last week unemployed Americans are scheduled to receive the expanded unemployment benefits of an additional $600 weekly from the federal government. Established in March, it expires at the end of the month. Republicans have argued that the additional money incentivizes people not to return to work, as they receive more unemployment than they would at their jobs.
Reportedly, everyone who received a check during the first round of stimulus payments may not receive money the second time around. According to a plan that was being shaped by House Majority Leader Mitch McConnell, only those who made less than $40,000 a year would be eligible.
However, Democrats are likely to push for qualifications that follow the lines of the “heroes act” that the House of Representatives passed in May.
Under that scenario, qualifications could be people who make less than $99,000 a year, college students, dependents over 17, disabled relatives and taxpayers’ parents, families of up to five people, SSDI recipients, and people who are US citizens but pay taxes and file tax returns and otherwise comply with federal tax laws.
It has been suggested that the second stimulus package will look at a variety of factors, including income, but also age, citizenship, marital status, and the number of dependents.
Presuming Congress can agree and pass a stimulus package by or before the end of July, the IRS could begin to distribute checks by August. If we use the first stimulus as a guideline, the president signed the CARES Act into law on March 27.
The treasury began distributing first stimulus payments less than three weeks later on April 15. Therefore, if any stimulus act is signed into law by Friday, August 7, then the first checks could begin going out by August 26.