A Second Stimulus Check May Soon Be on the Way
Another stimulus check could soon be on the way to your bank account. $300 billion more could be sent to Americans struggling during the coronavirus pandemic as soon as next month.
The plan is being negotiated by Treasury Secretary Steven Mnuchin and Senate Majority Leader Mitch McConnell. “Our proposal is the exact same provision as last time,” Mnuchin told reporters Thursday, according to Fortune.
If the second round of stimulus checks are sent to the same people as the first, most Americans would see $1,200, or $2,400 for a couple.
- Individuals earning up to $75,000 would receive a $1,200 ($2,400 for couples)
- Parents would receive $500 for each child
- For every $100 individuals earn over $75,000, payments will be reduced by $5
- Individuals earning over $99,000 or couples earning more than $198,000 won't qualify,
A second plan from the House, calls for an increase in payments for dependent children from $500 to $1,200.
You would get your money the same way the first round of stimulus checks were sent - deposited into bank accounts or sent through the mail. Though, hopefully this time around it'll be a little smoother.
The latest stimulus plan still needs Democratic approval. The House and Senate must approve the bill before going into recess August 7th.