A second round of stimulus checks may be on the horizon, but would you qualify for another payment?
In the words of AS.com, “the chief conclusion that can be drawn is that the parameters of the next payment will in fact be largely unchanged.”
The legislation on the table is the HEALS Act. If the bill becomes law, then it would follow a format similar to the CARES Act. That means that a second round of payments would amount to $1,200 per individual, per AS.com.
As outlined by CNET, the following individuals would qualify for a second round of checks:
– A single US resident with an adjusted gross income less than $99,000
– A head of household earning under $146,500
– A couple who files joint with no children and earns less than $198,000
– A dependent of any age (this differs from the CARES Act, which made allowances only for dependents under age 17)
The outlet adds that individuals in prison and who are deceased would not qualify for a check.
Here’s what we know:
Negotiations Are at a Standstill
The question of whether or not another round of checks will be issued has more to do with negotiations surrounding another stimulus package than anything else.
At present, discussions are at a standstill, with both sides of the aisle struggling to reach a consensus on the parameters of a stimulus package. Both Democrats and Republicans have stated they are open to resuming discussions this week, but when exactly that will happen is unclear.
Negotiators did not meet over the weekend, nor did they get together on Monday or Tuesday, according to Forbes.
The outlet reported, “Instead of more negotiations, politicians are ramping up the political rhetoric and blaming the other side for delays.”
According to Fox Business, it’s possible that this stalemate could extend discussions on a relief package into September.
Could Eligibility Change?
On Saturday, after Congress failed to adhere to its self-imposed August 7 deadline to reach an agreement on an economic relief package, President Donald Trump took action by signing four executive orders. Noticeably missing from his orders was a second round of stimulus checks, as that legislation needs to pass through Congress, according to AS.com.
As discussions on eligibility for stimulus checks are ongoing, more information is likely to be revealed in the coming days.
According to Forbes, discussions have been held up in part because Democrats are pushing for universal mail-in voting.
In addition, both sides seemed to have reached an impasse when it comes to aid to state and local governments. Forbes reported, “Democrats are pushing for $1 trillion in additional funding for states and municipalities, but Republicans are adamant that the entire package not exceed that $1 trillion (the entire Democratic ask is more than $3 trillion).”
On Wednesday, PIMCO head of public policy Libby Cantrill told Bloomberg that while the details of a deal may not be ironed out this week, the “framework” for a deal is there.
Secretary Steven Mnuchin seconded those sentiments, saying that legislators had agreed “on money for schools, money for child care, money for small businesses, [and] second payments on the PPP for businesses that have been particularly hard-hit,” according to Forbes.
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