While millions of Americans are still waiting for the completion of the first round of stimulus checks, The White House and the Congress are currently considering about a possible second wave of payments to stabilize the unsteady economy of the United States which is shaken by the effects of the global health crisis on the businesses and employment sector.
Separate paths are currently planned out by White House advisers, House Democrats, and Senate Republicans regarding the second financial rescue bill which includes the estimation of the amount that should be allocated for individuals, unemployed workers, and families.
There is also a huge possibility that all three approaches would be combined in sending out the next stimulus package wherein the congressional leaders and the White House are looking for its common ground.
In a report by CNBC, the second stimulus payment's timeline has a higher chance to be in shifting as Mitch McConnell, Senate Majority Leader shared that Congress may have a decision in the upcoming weeks if it will be pushed to another round.
According to the Wall Street Journal, officials from the White House anticipated that the executive branch will work until July regarding ita own proposal.
There is also a chance that the death of George Floyd could affect the agenda of the government.
Read also: Second Stimulus Check Release: How Soon Will the Payment Be Approved for Release?
What is are the proposals for the second stimulus payment?
Based on Cnet.com, over-all, the proposal coming from the Democrats regarding the second batch of payments remains the furthest along, with its Heroes Act which passed the House vote back in May,
The package coming from the House if signed into law aims to provide a second round of payments to individuals and families while extending enhanced unemployment benefits until the end of the year.
How much money be in the second stimulus check?
Based on the Heroes Act that was passed in the House of Representatives, the second payment that would be received by those who are qualified is still $1,200 per individual or for a family at a maximum amount of $6,000.
The same eligibility requirements from the first wave are needed by a person in order to qualify for the said payment. However, it also entails an unemployment benefit of $600 per week until the beginning of 2021.
The White House is already planning its own stimulus package proposal for the second round and it would be up as early as this week. Based on the report, the proposal would focus on helping the economy recover from the fall caused by the pandemic. Thus, the White House eyes to give people incentives while looking for jobs and encourage them to spend their money in their locality.
Moreover, it was reported that the White House also plans to reduce the proposed unemployment payment to around $250 up to $300 within the second half of the year, since this may help encourage people to look for jobs. It is also aimed that the payment methods will no longer encounter the same problems that were encountered in the first round such as mailing to the wrong address or sending to invalid accounts.
Related article: Coronavirus Stimulus Check: Is the Second Round of Financial Aid Still Amounting to $1200?
