Who might be eligible for a second stimulus check and for how much money?
Lawmakers and the White House have advocated for another direct payment to Americans
As coronavirus incidences throughout the United States continue to rise, the case for issuing another round of direct payments to households appears to be growing stronger – so who might be eligible for money and when?
The Trump administration, and leaders from both political parties, have recently come out in favor of issuing more checks to some people, though this time around relief may be more targeted to Americans who need it the most.
White House economic adviser Larry Kudlow said on Friday that payments would be focused on lower-income and jobless individuals.
Another round of stimulus payments could be distributed to people earning less than $40,000, Senate Majority Leader Mitch McConnell has said.
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Under the CARES Act, the payments are $1,200 for each adult with adjusted gross incomes of up to $75,000. The threshold for married couples is $150,000 and they are eligible for $2,400 and $500 per child.
McConnell did not expand on the $40,000 figure, and it is unclear whether it would be double for married couples filing jointly.
The administration has not come out in favor of that threshold, but lowering income restrictions may make sense if the White House hopes to keep the cost of the package around $1 trillion or less.
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Checks will also be smaller than $1,200, according to Kudlow, even though Trump has said that he wanted larger payments.
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So when can you expect more details on a potential second round of stimulus cash? McConnell said a potential bill would be detailed later this month, when both chambers of Congress are back in session – before lawmakers leave for August recess.
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