There might be a second round of COVID-19 stimulus payments going out to Americans in the weeks to come: the Trump administration is considering adding stimulus payments into a future stimulus package, one economic advisor reports.
Millions of Americans still haven’t received their first stimulus check and may have to wait several months before they see any payment from the government.
Though many Americans have reported receiving their stimulus payments via direct deposit in recent weeks, just as many have spoken out about not receiving their payment as expected. In some cases, Americans reported not even being able to log into the IRS portal, which allows people to track the status of their check.
Here’s what you need to know:
White House Economic Advisor Confirms the Administration Might Recommend More Stimulus Checks for Americans
On Tuesday, White House Economic Advisor Kevin Hassett confirmed that the Trump administration is looking into whether or not Americans should receive a second round of stimulus checks due to the economic fallout from the coronavirus pandemic.
“I think that’s something that we are studying very carefully, that I know that people in the House are as well,” he said, per The Hill. “I expect it is very likely there will be a phase four deal and we’re going to be speaking with the president throughout the week about what he thinks should be in there.”
Congress has already approved multiple stimulus packages in the last month. The most recent, a $484 billion package aimed at replenishing a small business lending program and providing support for hospitals and testing efforts, was signed by Trump last week.
Polls Show More Economic Stimulus Is Needed
According to a recent survey by the financial blog Simply Wise, 63% of Americans will need another stimulus payment within three months. For 15% of those polled, another check is already needed in order for them to keep paying bills. Of course, other polls show a far more dire situation, and the record numbers of unemployment applications reflect just how many Americans are now out of work.
According to CNN, nearly 19% of the U.S. labor force is out of work, with 30.3 million workers filing first-time unemployment claims since mid-March. In addition to one-time stimulus payments of $1,200 per adult and $500 per dependent child under 17, the $2 trillion CARES Act signed by Congress in March provides an extra $600 per week on top of the normal state benefits to unemployed workers. But with another month of rent and mortgage payments due — and some overwhelmed state unemployment systems just last week finally catching up with the claims — millions of unemployed Americans are feeling the pinch, CNN reported.
For those hoping to receive another stimulus payment ASAP, there’s one small thing you can do to ensure you get the payment as quick as humanly possible: register direct deposit with the IRS, if you haven’t already. You can do this by using the Get My Payment portal on the IRS website, or by filing your 2019 tax form and including your direct deposit information, if you haven’t already.