A-second-stimulus-check-for-1200-heres-the-update.
The government is weighing another coronavirus relief check for 2020. If the package passes, it’ll put more IRS stimulus money in your pocket. Here’s the status today and what could happen next.
Will the government approve a second round of stimulus checks for up to $1,200 apiece? Congressional leaders on both sides of the aisle seem to support a second payment of some sort, though the debate is heating up on exactly what the next financial relief package looks like for individuals, businesses and people who are out of work — and the total amount of money you could receive.
The bill that’s currently on the table is the Heroes Act, a new economic proposal passed by the Democrat-led House of Representatives. The new legislation would provide an extra $1,200 per person (maximum) on top of what the first round of relief checks provided, as well as broader support for families, front-line workers and US residents who are not citizens. Worth $3 trillion in total, the relief package is now with the Senate. Learn more here: https://www.cnet.com/personal-finance/a-second-stimulus-check-for-1200-heres-the-update-on-another-round-of-payments/
When will Senate deliberate the Heroes Act? What happens next?
It isn’t clear when the Senate will make a decision on the Heroes Act, though it’s suggested that the negotiations could take place in June, after the Senate’s current 10-day recess, according to NBC News.
It’s widely believed that Republicans will continue to push back against the bill and may work with The White House on their own stimulus package. McConnell has said more aid may be necessary, but it may take a different form than the House bill being proposed — and one worth less than a third of the proposal. Congress is also working to make it easier to forgive small business loans that are part of the CARES Act that passed in March.
Note that any second stimulus package that passes both the House and the Senate would still need a signature from President Trump before it could take effect.
