05/14/20
Here we go again! Congressional efforts to pass another economic stimulus package officially began when House Democrats introduced the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act. Perhaps the most anticipated provisions in the new bill are those concerning a second round of stimulus checks.
There was a lot of buzz about $2,000 stimulus checks each month, but in the end the Democrats opted for a much more modest proposal. In fact, the second round of stimulus checks called for in the HEROES Act looks a lot like the first round of $1,200 checks authorized by the CARES Act--but with some important tweaks (and even some changes to the CARES Act payments).
The HEROES Act as it stands right now doesn't have a very good chance of becoming law. It's considered dead on arrival in the Republican-controlled Senate. However, some proposals in the current bill could survive the coming political slugfest and eventually land on President Trump's desk. The new stimulus check provisions certainly could be among them because (1) the general idea of having more direct payments has bipartisan support and (2) the HEROES Act proposal is not as costly as other stimulus check options.
We don't know yet what lawmakers will eventually do. They could negotiate a final version of the HEROES Act, craft a different bill, or become stuck in typical Washington gridlock. But while we wait for further action (or inaction), let's take a look at the proposed second-round stimulus checks and see how they compare with the first round of payments.
Families Could Get More Money in Their Second-Round Check
Like the first round of stimulus checks, the HEROES Act calls for a $1,200 payment to each eligible American ($2,400 for married couples filing a joint return). However, you would get an additional $1,200 for each dependent (for up to a maximum of three dependents). So, for example, a married couple with three children could get up to $6,000.
For the first round of stimulus checks, an extra $500 is allowed for each child age 16 and younger. So, if enacted, the HEROES Act plan would provide more money for each additional family member and allow these extra payments for older children, elderly parents living with you, or anyone else who you support and can claim as a dependent.
More:
https://www.yahoo.com/news/second-st...054503085.html
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