What’s The Latest On A Second Stimulus Check?
Both Republicans and Democrats want to send Americans a second round of stimulus checks as part of the next coronavirus aid package. WIVB-TV reports that we’re finally hearing about “productive” conversations that could put you closer to receiving the next $1,200 direct payment.
Talks on the huge relief measure resumed on Saturday, focused on restoring a newly expired $600-per-week supplemental unemployment benefit.
Speaking to reporters, negotiators on both sides said that the talks were “productive” and would continue on Monday. But during an interview Sunday, Pelosi made it clear the progress doesn’t mean everyone is on the same page.
“We must defeat this virus. And that is one of the points that we still have not come to any agreement on,” Pelosi said.
The administration is willing to extend the $600 jobless benefit, at least in the short term, but is balking at other demands of Democratic negotiators like aid for state and local governments, food stamp increases, and assistance to renters and homeowners.
Unemployment insurance is a principal element as the COVID-19 relief bill is expected to grow considerably from a $1 trillion-plus GOP draft released this week.
The $600 per week jobless benefit officially lapsed on Friday and Democrats have made it clear that they will not extend it without securing other relief priorities.
Whatever unemployment aid negotiators agree on will be made retroactive – but antiquated state unemployment systems are likely to take weeks to restore the benefits.
The Senate is set for a recess after Friday, August 7 that would run through Labor Day.
The GOP plan calls for checks up to $1,200 for most taxpayers plus an additional $500 for any dependent. The word “any” is the change that could result in additional dollars.
“We also include, in the additional $500 for each dependent, some people that we didn’t intend to leave out last time, but we did,” Republican Sen. Chuck Grassley of Iowa said Monday. “So regardless of age, some of these dependents will now be helped.”
A Democratic plan approved in the House back in May proposed a similar structure for dependents but with the amount being $1,200 instead of $500.
Outside of the dependent payment, here’s how the payment up to $1,200 breaks down, according to CNBC:
- Individuals earning a gross adjusted income of up to $75,000 per year in 2019 will receive a $1,200 payment.
- Couples earning a gross adjusted income of up to $150,000 per year in 2019 will receive a $2,400 payment.
- The checks will be reduced by $5 for every $100 in income, phasing out completely at $99,000 for individuals and $198,000 for couples.
- Individuals with no income and individuals who rely on benefits such as Social Security are eligible for the full $1,200 payment