If a deal can be reached, US citizens will receive another cash payment.
Republican and Democratic representatives in the United States Congress have been stalemated over the last several weeks in their attempts to pen a second COVID-19 relief package for the US economy and citizens. Earlier in the week, Democratic representatives presented the HEROES 2.0 Act, a paired-down version of May’s HEROES Act that would restore the $600 bonus to unemployment benefits and provide $436 billion in aid to state and local governments, among other efforts. This draft of the bill was denied by Republican representatives, who deemed the package an expensive “wish list.” However, there was one element of the new bill that both sides seem to have come to a consensus on: stimulus checks.
The draft of HEROES 2.0 that was presented included a second round of $1,200 stimulus checks to be delivered to US citizens in the same manner as the first. Treasury Secretary Steve Mnuchin announced today that both sides have agreed that whatever form the final bill takes, it will definitely include the second round of checks. As was the case with the CARES Act, money will likely be earmarked in the bill for distribution to the US populace.
Barring any last minute changes to the previous model, the eligibility requirements for these checks will likely remain the same; citizens earning $75,000 annually will be eligible for the full $1,200, with married couples earning less than a combined $150,000 annually being eligible for individual payments totaling in $2,400, plus an additional $500 for dependents.
House Speaker Nancy Pelosi has expressed hopes that this point of agreement will “give further room for talks” as the negotiations for the new package continue.
