Here Is The Latest On Your Second Round Of Stimulus Checks
If feels like it happened a long time ago, stimulus checks were sent out to help families and individuals in need due to the coronavirus pandemic. The first round of check went out in mid-April and gave families and individuals about $1,200 per adult and $500 per child under the age of 18. Now, it's late July, the coronavirus is still surging and unemployment is high. It's time for another round of stimulus checks. Here's what we know so far.
The Senate Majority Leader, Mitch McConnell has said that they are negotiating a second round of stimulus checks right now, but since the details haven't been hammered out there aren't a lot of specific details.
"We want another round of direct payments to help American families keep driving our national comeback," Senate Majority Leader Mitch McConnell, R-Ky.
One thing the stimulus package is rumored to contain is another round of Paycheck Protection Program loans for small businesses and $105 billion for education.
One sticking point is the $600 a week bonus for unemployment that is helping people that are out of work keep food on the table and a roof over their heads. Some want to eliminate the bonus for unemployment and instead focus on tax relief for the individuals that are working. Mitch McConnell has said that the $600 per week unemployment bonus won’t be included in the GOP bill, but will be replaced by an alternative. No word on what that would be at this time.
Treasury Secretary Steven Mnuchin has hinted that payroll tax relief would be part of the stimulus package as well as a one-time payment to families and individuals making less than $75,000. Those payments could be as much as $1,200 per person, including children.
They hope to have the stimulus package passed by the end of the month and be able; to start sending out checks and making direct deposits a few weeks after that.