Getty Will there be a second round of COVID-19 stimulus checks?
Millions of Americans are getting anxious for a second COVID-19 stimulus check. Republicans and Democrats broadly agree that people meeting certain income guidelines should receive a second check, it never seems to come.
How soon could you get a second check?
First of all, it depends on the two parties reaching an agreement over the broader stimulus relief package. They’ve agreed broadly on stimulus checks, but they’ve remained at loggerheads over other aspects of the package, such as the extension of $600 weekly federal unemployment benefits, which have expired. You won’t get a second check until the two parties agree on the broader package details — and the Senate goes into recess on August 7, so the deadline is tight unless they extend their summer session.
The generally agreed amount is $1,200 for people making under $75,000 a year, with gradually smaller amounts up to $99,000 and $500 for each dependent regardless of their age — which would extend the relief to some college students who missed out last time.
However, you may get your check more quickly than last time once (or if) Congress does pass a second relief plan. Treasury Secretary Steven Mnuchin says you can expect a more rapid turnaround than last time.
“If I could get (the second stimulus relief package) passed tomorrow, I could start printing them the following week,” Mnuchin said August 2, according to CNET.com. “I could have them out immediately.” The site points out that it took 19 days for the government to start sending out the first stimulus relief checks after they were approved by Congress.
Here’s what you need to know:
It’s Still Possible You Could Get an August Stimulus Check
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CNET.com reported that if the Senate passes the plan on August 6 and the House follows suit on August 7, with the president signing the bill, people could start to see checks the week of August 17.
If, instead, the plan is passed in early September, the first checks could be sent out by September 21. According to Newsweek, House Democrats have warned that agreement over a new stimulus plan might not come until after the August 7 recess date.
The two sides remain divided. “If you’re looking for a total consensus among Republican senators, you’re not going to find it. So we do have divisions about what to do,” Senate Majority Leader Mitch McConnell said on August 4, according to Forbes. However, he indicated that he might be willing to agree to an extension of the extra $600 in unemployment benefits, which has been a sticking point for Democrats. Some Republicans believe that amount gives people too much of an incentive not to go back to work. McConnell’s movement on that front increases the chances of an August deal.
Mnuchin Calls the Bipartisan Support for a Second Check ‘Enormous’
GettyTreasury Secretary Steven Mnuchin.
Underscoring the fact that it’s likely a second stimulus check will be approved, Mnuchin said on ABC’s This Week on Sunday: “There’s enormous bipartisan support” for a second round of stimulus checks.
Trump has also indicated his support for a second round of checks. In fact, he’s said they might even go higher, but he’s also floated a range of $1,200 to $3,400, the latter amount for a family of four. That’s also the amount of the Republican proposal on a second check that’s being negotiated in Congress.
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