Second stimulus payment: What they’re saying, when it might come, who will get it, and how much might it be - PennLive

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Cash straight to the bank accounts of millions of Americans.

That was a popular topic of discussion the past week, and the good news is, it looks like a second coronavirus stimulus package is on the way.

What will it look like though?

When might it come?

How much will it be, and who will get it?

Those were popular topics in the discussion, but there was plenty else to talk about, too, and plenty of folks entered into the mix.

The following is a quick look back at all of the top news, notes and quotes on a potential stimulus payment from the past week:

WHAT THEY’RE SAYING

A good sign that the payments will come is that almost all of the top political players have spoken up in support of it. President Donald Trump said, “I support actually larger numbers than the Democrats, but it’s got to be done properly,” in an interview with Fox Business’ Blake Burman.

“I want the money getting to people to be larger so they can spend it,” he added. “I want the money to get there quickly and in a non-complicated fashion.”

But White House Economic Adviser Larry Kudlow told Fox Business that the payments would be less than the $1,200 most Americans received previously and would be targeted toward lower-income individuals.

And, earlier this week, Senate Majority Leader Mitch McConnell said he believes “the country needs one last boost,” and that he is “pretty sure” a bill could be in the works.

Also, Jerome Powell, Chair of the Federal Reserve said on June 30, “A full recovery is unlikely until people are confident that it is safe to re-engage in a broad range of activities.

HOW MUCH ARE WE TALKING?

While Trump has said he wants Americans to receive more than they did on that first check — again, most received $1,200 — McConnell, like Kudlow, suggested we are talking about a smaller payment.

The Democratic-run House passed a $3 trillion dollar relief plan in May that “would include a second direct payment to individuals and households of up to $1,200 per family member, capped at $6,000 for a family of five.”

Republicans are expected to propose another plan, however, that, according to the report, would include as much as $1 trillion in spending. That plan is expected to “include measures that would help reopen schools and support job growth and health care.”

According to a cnet.com report, the answer to how much you could be getting is ... nothing. That’s right. They might just decided that this isn’t the route to take and, instead, focus “stimulus efforts on tax breaks for businesses as a way to boost US job numbers.”

Bummer for you bank account if you really need an immediate boost.

But that is, likely, not the route lawmakers are going.

Other options, according to the report, include a $1,200 maximum single payment to individuals under the Heroes Act. Democratic Senator Kamala harris has proposed a $2,000 monthly payment that would keep coming until three months after the pandemic has ended. Another Democrat, Rep. Ro Khanna, has proposed $2,000 payments for 12 months.

Likely, for those who qualify, the payment will be similar or less than the first round.

SO, WHO IS GETTING A PAYMENT?

The first round of payments hit the bank accounts of about 160-million Americans, according to reports.

But, it looks like a lot of Americans who got checks in the first round will have to sit this one out because most of the discussion has focused on lower-income individuals.

McConnell said the folks hurt most by the pandemic were “hospitality-industry workers making $40,000 or less.”

And that seems to be the Republicans’ sweet-spot to keep the bill at $1 trillion.

To see how much you could get from a second check, direct deposit, or debit card, you can visit the Omni Calculator or use its embeddable tool below to punch in your information to see what kind of cash could be headed your way.

WHEN MIGHT YOU GET PAID?

It seems like early-August is the time to watch.

It’s been signaled in recent days by multiple outlets that Senate Majority Leader Mitch McConnell could take up discussion on the House-passed HEROES Act early in the next session, which starts July 20. If the bill is ever passed, it would net millions of eligible Americans a second stimulus payment similar to the one that came out of the CARES Act earlier this year to help those struggling because of the shutdowns tied to the coronavirus pandemic.

Cnet reports the Senate will have a period of 15 days between July 20-Aug. 7 where the package could be hammered out and agreed upon. If it doesn’t happen then, there’s another window — Sept. 8-25 — when the package could be agreed on.

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