The road to a second stimulus package during this coronavirus pandemic has been a complicated one.
It first seemed a certainty, but in recent weeks certainty turned to uncertainty. Republicans and Democrats agreed that Americans needed help, and they talked about it publicly. What they couldn’t do, however, was come to an agreement on the finer points of a package that would put money in bank accounts.
And, as soon as last week, it seemed as though a payment might not come at all this year.
Now, however, it looks as though the sides are now making a final push to get things done.
And, on Wednesday, President Donald Trump encouraged congressional Republicans to support a massive economic relief bill, according to The Washington Post, with “much higher numbers.”
How high?
Well, according to the report, Trump “expressed support” for a $1.5 trillion plan that was unveiled Tuesday in by the bipartisan Problem Solvers Caucus in the House. According to The Washington Post, that new proposal would bring another round of $1,200 stimulus checks for Americans.
“I like the larger amount, I’ve said that,” Trump said, according to the report. “Some of the Republicans disagree, but I think I can convince them to go along with that because I like the larger number. I want to see people get money.”
The latest push comes a week after CNN reported that a stimulus deal would be unlikely until after the November presidential election.
That turn in negotiations came as almost all of the benefits from March’s $2.2 trillion CARES Act had come to an end. That included $600 federal unemployment checks.
Trump previously floated an idea that he said he believed could get money to Americans sooner. According to the New York Post, he urged Congress Friday to approve stimulus checks “by redirecting $300 billion in unused coronavirus pandemic relief funds.”
The first round of stimulus payments gave individuals as much as $1,200 with as much as $2,400 going to married couples with a $500 bonus paid to parents for each child under 17. According to a CNBC repot, “full payments” went out to individuals who made up to $75,000 and to married couples making up to $150,000. But, it said, the payments were “gradually reduced” for folks making more than that, and totally phased out for individuals making more than $99,000 and married couples making more than $198,000.
A cnet.com report this week said that the IRS could potentially get checks out to Americans within a week of a new bill being signed, increasing the chances of payments going out this year.
And, although it is all still up in the air, cnet.com also offered a tool, based off of what the discussions have been, that will allow you to predict exactly how much you might be getting.
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