The coronavirus has caused more than 44 million Americans to be out of work, which has made the US government consider a second coronavirus stimulus check to be rolled out. But how much will it be? And when will it be rolled out?
We have already heard rumblings of a second coronavirus stimulus check with the House of Representatives passing a bill that would spend some $3 trillion on a slew of different projects. Some of the money would arrive back in taxpayers' pockets, but not every dollar. While this bill did pass the House, it has to go through the Republican-controlled Senate where Republican's vowed to not pass a bill that spends more than $1 trillion. President Trump decided to meet lawmakers halfway, and urged the passing of a $2 trillion stimulus bill.
So what would this second coronavirus stimulus check entail? Under the second stimulus bill, individuals were eligible for a $1,200 payment, but that total amount is reduced by 5% for every dollar over a gross income higher than $75,000 a year. The check also wouldn't apply to anyone who has a total gross income of over $99,000. Congress has said that it's going to need to take a two-week recess from July 3rd to July 17th to consider a second stimulus bill, which means if any action is taken towards a second stimulus bill, it won't happen until late July.
If you want to read more about the second coronavirus stimulus check, visit this link here. Also, if you haven't yet received the first stimulus package, get in quick before the cut-off date, find out more about that here.
Last updated: Jun 30, 2020 at 06:51 pm CDT
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