With politicians coming to an impasse about the second stimulus check or stimulus relief package, some people are wondering if an agreement could roll out financial support within this month.
Compromising for a stimulus check
Despite both Democrats and Republicans saying they are willing to compromise to give Americans a much-needed relief bill, no actions have progressed to support that need.
According to Forbes, the requirements before a stimulus relief package is released include a number of factors. Firstly, politicians have to come to an agreement about the details of the relief bill and draft the final version.
After going through politicians, both the White House and the Senate must give their approval of the proposal's passing. The United States president must then sign the relief bill, after which the Treasury department can begin distributing the financial support to those who are eligible across the nation.
To alleviate worries of citizens, Trump had signed a collection of executive actions over the weekend in the hopes of providing some support to Americans. However, the orders do not address the ongoing question of a new stimulus check, suggesting Congress could include it in a larger-sized relief package.
In the possibility that talks about a stimulus relief bill between politicians resume, Americans can look forward to the discussion that would include new payment for individuals and families. On Monday, Treasury Secretary Steven Mnuchin said they have agreed on distributing similar direct payments as the first stimulus check.
Also Read: Coronavirus Relief Package Talks Collapse, Trump Looks to Provide Other Support to Americans
Previous financial support
Several proposals have been raised in terms of a coronavirus relief package, and each has different details and inclusions. The HEALS Act, if it becomes law, would be most similar to the previous CARES Act and gives allowance to dependents.
The proposal would provide financial support to US residents who earn an annual salary of less than $99,000, a household head earning less than $146,500, a married couple filing joint taxes earning less than $198,000 together, and dependents of any age, as reported by CNET.
Another bill is the HEROES Act that, if approved, would provide financial support to citizens who earned less than $99,000 in 2018 or 2019 adjusted gross income, prioritizing which was filed most recently. It would also give college students, dependents 17 years old and above, disabled family members, and parents of taxpayers payment.
The proposal would also provide direct payments to families which consist of a maximum of five members who would receive at-most $6,000 per family. The list of recipients includes SSDI recipients and non-US citizens who file tax returns and pay taxes and follow federal tax law.
The CARES Act, which was released in March, provided the majority of Americans with financial support amid the coronavirus pandemic. However, some people were left out due to several factors. Some people were not eligible to receive the direct payment because they earned more than the annual threshold salary, and some were denied the support because they were defined as nonresident aliens by the United States government.
