The big question of whether Congress will pass another coronavirus stimulus bill is: will they or won’t they?
From jobs to savings to retirement plans, the coronavirus pandemic has disrupted the financial lives of many Americans. And this has led to millions of people facing severe financial difficulties. They hope for greater relief, including expanded federal unemployment benefits and a second round of $ 1,200 stimulus checks as the US economy continues to cope with the challenges of the Covid-1
Now, the Democrats in the House have introduced a new, updated bill that reduces the total size of aid they sought earlier with the aim of appeasing Republicans.
The proposal, still dubbed the HEROES Act, includes a second round of $ 1,200 stimulus checks.
This time around they are asking for more generous terms than the first checks dispersed in the spring, which would lead to more people qualifying for the money.
As the first round of stimulus checks, House Democrats offers payments of up to $ 1,200 per individual or $ 2,400 per married couple applying jointly, plus $ 500 per eligible employee.
Full-time students under the age of 24 and dependent adults would also be eligible for those $ 500 payments. This marks a shift from the paid pay in the early allowances, which only went to children under 17.
Another change the Democrats are looking for would be for the money to also go to those with taxpayer identification numbers, not just Social Security numbers.
Payments would be exempt from reduction or compensation for overdue child support, unlike early allowances. Democrats are also demanding that second checks be protected from kidnapping.
The measure also seeks to correct delivery problems that occurred with the first checks.
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The new checks would also be based on federal tax returns from 2018 or 2019.
Federal beneficiaries – those who receive social security, supplemental security income, veterans, or rail retirement benefits – would be willing to receive payments automatically even if they did not have the 2018 or 2019 returns.
The Treasury Department would be required to contact people who normally do not file tax returns to let them know how they can submit their information to receive the money.