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Published -
- May 13, 2020
- 9:20 pm
Stimulus Check 2
Here’s what Kevin thinks is happening concerning the second stimulus bill.
What are the differences between the HEROES Act and the HEALS Act proposed stimulus packages?
Stimulus Check 2: When will the Next Stimulus Pass?
The unprecedented COVID-19 pandemic has wreaked havoc on the global economy, causing countless businesses to shut down or operate at a reduced capacity. Millions of Americans have lost their jobs or experienced a significant reduction in income, leading to a widespread financial crisis. To make matters worse, the first stimulus package was only a short-term solution to alleviate the economic struggles of Americans. Many individuals and families are eagerly waiting for stimulus check 2 to pass, which raises the million-dollar question, when will the next stimulus pass?
The first stimulus package, known as the CARES Act, was signed into law on March 27, 2020. It provided eligible Americans with a one-time payment of up to $1,200 for individuals or $2,400 for couples, with an extra $500 for each qualifying child. The package also offered extended unemployment benefits and small business loans, among other measures. However, the payments were not enough for millions of households struggling to pay their bills during the pandemic.
In May, the House of Representatives passed the HEROES Act, a $3 trillion stimulus package aimed at providing much-needed relief to struggling Americans. The HEROES Act provided a second stimulus check of $1,200 per individual, up to $6,000 per household. The bill also aimed to expand unemployment benefits and provide funding for state and local governments and small businesses.
The Senate, however, did not pass the HEROES Act, and a proposed $1 trillion stimulus package called the HEALS Act was introduced by Senate Republicans in July. The HEALS Act proposed a second stimulus check of up to $1,200 for individuals with an income of up to $75,000 per year or $2,400 for couples with an income of up to $150,000 per year. Besides, the package proposed a reduced weekly unemployment benefit of $200, down from $600. The HEALS Act also proposed liability protections for businesses and funding for schools and colleges to reopen.
However, both parties remain deadlocked on the next stimulus check, with Democrats wanting a $3.4 trillion package and Republicans wanting a considerably lower amount of $1 trillion. There is also a disagreement regarding the eligibility of the next stimulus check. Democrats want it to include undocumented immigrants and adult dependents, while Republicans want to limit it to those who qualify for Social Security Numbers.
As of now, it is unclear when the next stimulus package will pass, and whether a second stimulus check will be part of it. Congress is on recess until after Labor Day, further delaying any progress on the stimulus package. Experts suggest that it may not pass until October, and the election could further complicate the matter.
In conclusion, stimulus check 2’s passing remains uncertain, and millions of Americans are anxiously waiting for Congress to reach a conclusion. Undoubtedly, the next stimulus check will provide a lifeline to millions of households struggling with the harsh economic realities of the COVID-19 pandemic. However, with November’s election approaching and both parties holding different viewpoints, it remains to be seen whether the next stimulus package will pass anytime soon.
