Most of the second stimulus checks for up to $600 per head have now been disseminated. While some individuals will have to chase down their checks along with filing for 2020 taxes (if your payment did not arrive), others are beginning to anticipate the details of a third stimulus check.
Third Stimulus Check
Some people are anticipating how fast Congress could develop a bill, the amount of new stimulus money every household may receive, begin to deliver a third stimulus check, and how the qualifications in a third payment could change to transfer more money to more families.
President-elect Joe Biden in the previous week revealed his COVID-19 relief package with $1,400 stimulus checks for the majority of Americans. This week, the United States will move one step closer to witnessing the proposal become an action plan as the president-elect and two new Georgian Democratic senators take office, reported News 19.
On January 14, Biden presented his initial order of business: A large $1.9 trillion stimulus bill named the American Rescue Plan that involves a third round of Economic Impact Payments (another name for stimulus checks), reported Forbes.
The majority of Americans sought a third-round that would include $2,000 checks in addition to the second wave of $600 stimulus checks. Instead, Biden plans to add $600 for a total of $2,000.
This is apparently less than the $2,000 last-ditch effort in December and the package that was discussed previously this January.
Biden's proposal is not a given, and the $1,400 he is suggesting now could reportedly be remarkably different from the last dollar amount that receives approval, reported CNET.
The most recent proposal for a third stimulus check would alter the rules, from maximum payout to who is qualified.
Biden's stimulus package, if passed as is, would extend the federal eviction ban, involve a $400 weekly unemployment bonus, and approve a payment of up to $1,400 per eligible adult, which is not the $2,000 initially expected. The idea would be to "top up" the $600 amount of the second stimulus check to $2,000 when merging the per-person payment maximums.
Once the proposal becomes an action plan, Democrats will dominate Congress and the presidential seat, giving the $1.9 trillion plan a good chance for passage.
However, the process could take more time than several Democratic leaders hope.
If you are an eligible single taxpayer who received or expects to receive $600 in the latest payment series, you are likely eligible to receive $1,400 under Biden's proposal.
Biden will undertake an inauguration on January 20, and he hopes to acquire bipartisan support and pass this bill immediately. A number of Republican senators have indicated they support $2,000 stimulus checks, and some prominent Republicans have denounced the bill for being too broad.
The $1400 figure and any changes to stimulus check eligibility will be points of debate and negotiation in the new Congress. Negotiators settled at a $600 maximum despite President Donald Trump also calling for $2,000 checks.
Such suggestions are the initial steps toward a fresh injection of relief money during the United States' unrelenting COVID-19 pandemic.
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