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A second stimulus Bill, may be coming in for Americans for covid-19 pandemic

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Americans eager for a second cash check may have to wait until the end of July for the money

White House economic adviser Kevin Hassett tells ‘America’s Newsroom’ the U.S. has been able to turn around the economy faster than expected. Earlier this week, Treasury Secretary Steven Mnuchin suggested the Trump administration was considering sending Americans another round of stimulus checks to offset the financial pain caused by the coronavirus pandemic and the related economic lockdown.

"I think we’re going to seriously look at whether we want to do more direct money to stimulate the economy," Mnuchin said Wednesday while testifying before the Senate Committee on Small Business and Entrepreneurship.

It's unclear what specific policies the White House is exploring, but there are several proposals — from Democrats and Republicans alike — on the table that would get money directly into the hands of a significant chunk of Americans.

One such package, the $3 trillion HEROES Act passed by House Democrats in May, would send another round of $1,200 checks to American adults and children and expand the number of people who are eligible to receive the government aid. One criticism of the CARES Act, which sent up to $1,200 to Americans earning less than $75,000, was that it did not include older teens and college students. But the HEROES Act broadens the scope of the money to include those individuals. The payments would be capped at $6,000 per household.

To see how much money you would receive through the HEROES Act, you can use this online calculator provided by Omni. Some Democrats have proposed a more aggressive approach to stimulus measures. At the beginning of May, Sens. Kamala Harris, D-Calif., Bernie Sanders, I-Vt., and Ed Markey, D-Mass., unveiled a bill that would give most Americans a monthly payment of $2,000 until the virus begins to fade — a nod to universal base income championed by former Democratic presidential candidate Andrew Yang.

Similar to a House bill proposed in mid-April, the senators called for $2,000 cash payments to every American who earns less than $120,000. It would expand to $4,000 for married couples and also provided an extra $2,000 for each child up to three. That means families with three children could theoretically receive $10,000 per month.

Republicans, meanwhile, have pitched a back-to-work bonus for unemployed Americans returning to their jobs. More than 44 million Americans have lost their jobs as a result of the coronavirus-induced economic shutdown, a rate unseen since the Great Depression. But Republicans have voiced concern that extra unemployment benefits of $600 a week are actually discouraging some workers from returning to their jobs. The sweetened benefits are set to expire at the end of June.

Texas Rep. Kevin Brady, the top Republican on the House Ways and Means Committee, proposed a bill to give recipients of unemployment benefits who go back to their jobs a one-time lump payment of $1,200, or two weekly payments of $600. Another proposal from Sen. Rob Portman, R-Ohio, would provide $450 weekly to laid-off Americans returning to work, in addition to their wages. In both cases, the money would last through July 31, the same date on which the extra $600-a-week unemployment benefit expires.

The idea of a back-to-work bonus has also gained traction among some White House officials, who have voiced support for reforming unemployment benefits in the next aid package. "We've got to reward individuals for coming back to work," White House economic adviser Larry Kudlow said during a recent interview on "Fox & Friends." "There will be some kind of re-employment bonus. We're not going to go to the $600, that's a disincentive to work."

Americans eager for a second cash check may have to wait a while, however. White House officials have said they do not intend to pass more relief measures until at least the beginning of July. The Senate is not scheduled to return from its two-week summer recess until July 20, making it unlikely that a fourth round of aid is passed before then.

Kevin Hassett, another White House economic adviser, told "Fox & Friends" on Friday morning that another stimulus package -- and what's included in it -- will depend on what the economy looks like in July.

So far, Congress has passed three massive stimulus packages totaling nearly $3 trillion to blunt the economic pain from the virus outbreak, raising concerns among some Republicans about a ballooning deficit.

Money from the $2.2 trillion CARES Act, signed into law at the end of March, is still trickling its way through the economy.

There remains $130 billion in the Paycheck Protection Program, a fund that provides forgivable loans of up to $10 million to small businesses. There are also an estimated 35 million individuals waiting to receive their payment of up to $1,200 from the Internal Revenue Service, according to recent data published by the House Ways and Means Committee.

My sincere appreciation to @Read.Cash for the opportunity given, shout-out to @cybernetus , @phavvy, @Zizi , @ChucksD, @HelloWorldd

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Comments

This coronavirus is the strangest virus I've ever heard of. It's very dangerous the way it spreads. It is so mysterious the way it lurks in schools, but then dies at Home Depot. It can wreak havoc in churches; praying people are exceptionally vulnerable! Although it’s Mind-boggling how it vanishes when people stand close together holding signs, destroying businesses, homes, property, monuments, etc. Yet, standing to watch a marathon or a concert triggers its wrath. It is sneaky. It can spread when buying clothes at Kohl's but not at Target. It is non-alcoholic. It can't spread when you are buying beer. It lives for two days on Amazon boxes, you must wait 48 hours to touch them but It can't survive on Dunkin Donuts coffee cups, so enjoying a hot cup of joe is safe. It is the most curious thing, how it lives on basketballs, baseball bats and ballet bars, but dies on WWE ropes and Walmart shopping carts. It is spread by hair stylists, dog groomers, and dentists, but not by bank tellers, cashiers, and fast food workers. It's so smart. It won’t bother the first 10 people but it knows when the 11th person shows up so be careful if that’s you. It even knows what you want vs what you need. If you want a massage or your nails done it is very actively on the prowl and not even a mask can stop it but If you need a plumber, it is weak, and a mask will keep it away. It also seems to be most dangerous after 5:30pm so businesses must start to close before the virus comes out and wreaks havoc upon the populations. Whoever heard of such a smart sneaky virus?!? 😂

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User's avatar Jed
1 year ago

A pretty good right up not bad... it even good that they are likely to get any stimulus... my country hasn't even even us anything at all, all we keep hearing is people donating money... that's what I call "audio money"

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1 year ago

This is a good one. The people of American will really be happy about this. Nice article writer.

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1 year ago

What a nice article it is! I am really appreciate you. Tha:k you. Keep it up.

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1 year ago