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Is a Second Stimulus Check On the Way?

Margaret Minnicks has been an online writer for many years. She writes about interesting things.


Information about a second stimulus check in this article is up to date. The White House and Congress have been deadlocked over the particulars concerning a second stimulus package for many months.

It is encouraging to know that Senate Majority Leader Mitch McConnell confirmed that Congress passed the $900 billion economic relief package on Monday night, December 21, 2020. The bill now goes to the White House for the president's signature to become law.

President Trump tweeted on Tuesday night, December 22 that the $900 billion COVID-19 relief bill passed by Congress is an unsuitable “disgrace” and urged lawmakers to make a number of changes to the measure, including bigger direct payments to individuals and families. He says, “I am asking Congress to amend this bill and increase the ridiculously low $600 to $2,000, or $4,000 for a couple.”

Whenever the president signs the bill, the Internal Revenue Service (IRS) is expected to send out the second stimulus checks immediately after President Donald Trump signs the bill. According to Treasury Secretary Steven Mnuchin, most American households should receive a check by the end of the year as part of the government's next aid plan.

However, there are some significant differences from the first check that was received earlier this year.

Amount of Check for Individuals

One of the most notable changes is that the amount is half of what it was before. The check will be only $600 per person instead of the $1,200 most adults received earlier. While the amount is small, it was a last-minute effort for individuals to get anything. Many negotiations led to the decision for a second stimulus check because consumer advocates argued that millions of Americans are struggling with unemployment amid the coronavirus pandemic which is getting worse instead of getting better.

The amount of checks for individuals is half of the earlier stimulus check was. Individuals who made up to $75,000 in 2019 will receive only $600 instead of the $1,200 they received before.

Amount of Check for Families

Married couples who earned up to $150,000 in 2019 will receive $1,200 in the second round of stimulus checks. Dependent children under 17 years old will receive $600 checks the same as adults. Therefore, a family of four will receive $2,400. Earlier each child received $500 checks through the CARES Act. College students and high school students 17 and older didn't qualify before, and they still don't qualify for a check.

Seniors who are claimed as dependents on their adult children's tax returns won't qualify for a stimulus check.

Payment Schedule

The IRS will send out checks in the same manner that they were sent before which included receiving their payments via direct deposit, a paper check in the mail, or a debit card. The checks should be received much earlier since the information for distribution is already on file.

Treasury Secretary Steven Mnuchin thinks Americans should expect the second round of stimulus checks by the end of the year.

Names of Stimulus Packages

The first stimulus package was called CARES which is an acronym for Coronavirus Aid, Relief, and Economic Security. The second stimulus package is called HEALS which is an acronym for Health, Economic Assistance, Liability Protection, and Schools.

A check will be sent to people based on their annual income and number of dependents. The payment is not taxable and people can use it to pay for food, housing, clothing, or however they want to purchase.

Other Aids

Federal Eviction Moratorium
The stimulus package extends the federal eviction moratorium through January 31, 2021, and offers $25 billion in rental assistance.

Unemployment Aid
In addition to the $600 stimulus checks, the bill includes an extra $300 a week in unemployment aid. While the $300 is a small amount, notice that this is extra for those who have lost their jobs, and the relief package was set to expire. Unemployed payments will continue through March 14, 2021.

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Pandemic Unemployment Assistance Program
There will be an extension for contractual and self-employed workers through the Pandemic Unemployment Assistance (PUA) program/

Additional weeks of jobless aid to those who have run out of their regular state unemployment benefits will be provided through the Pandemic Emergency Unemployment Compensation (PEUC) program.

PPP Loans for Small Businesses
The Paycheck Protection Program will be reopened which provides $284 billion for small business forgivable loans. That program includes aid for many minority businesses and women-owned businesses. It also includes eligibility for nonprofits, local newspapers, television and radio broadcasters.

A total of $20 billion in Economic Injury Disaster Loans will be set aside for businesses in low-income communities. A total of $15 billion will be directed toward businesses that had to close or cut back because of the pandemic. Those businesses include venues with live entertainment, cultural institutions, and independent movie theaters.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.


Margaret Minnicks (author) from Richmond, VA on August 03, 2020:

My Brother Howard, I can tell you what you could do with your stimulus check when it comes. I think we will get it because it has been approved. The negotiators are at a deadlock about the details.

Howard L Taylor on August 03, 2020:

Thank you for the details regarding the second stimulus check and might I add with a wealth of information. I might need to hire you as my financial advisor as to what I should do with the pending deposit. Be blessed my sister.

Eric Dierker from Spring Valley, CA. U.S.A. on August 01, 2020:

Interesting indeed and well laid out.

Margaret Minnicks (author) from Richmond, VA on August 01, 2020:

Louise, those of us in the United States know quite well what a "stimulus check" is since we just received one in the amount of $1,200 a few months ago and have also received one in the past. Hopefully, you found out that a stimulus check is money given to taxpayers by the US government to "stimulate" the economy when people shop and spend the money however they want..The aim is two-fold: to stimulate the economy while helping taxpayers when they are short on money.

You didn't know that because you live in a different country and this information doesn't apply to you. Thanks for reading and commenting anyway.

Louise Powles from Norfolk, England on August 01, 2020:

I had to check what a stimulus check was as I've never heard of this term before.

Umesh Chandra Bhatt from Kharghar, Navi Mumbai, India on August 01, 2020:

Well narrated. You have given quite a good deal of information to the concerned US citizens. Good job. Stay blessed.

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