The question that has been bothering Americans for a long time is whether there will be a second coronavirus stimulus bill or not. The pandemic worsened by the months-long lockdown has made an enormous economic impact on the nation and Americans have been hoping for some financial aid from the government.
Hopes surrounding the expansion of the federal unemployment benefits and the $1200 economic impact payment is growing as American continue to cope with the global pandemic.
There is continuing negotiations going on within Congress to come up with the second coronavirus stimulus bill. These negotiations have been going on for months with House Democrats and House Republicans unable to come to a point of consensus. Americans continue to suffer from the lack of an economic benefit package amidst the ongoing pandemic to aid them economically.
House Democrats Propose An Updated Stimulus Bill
Now, Democrats have introduced an updated bill in front of Congress that seeks to condense the total size of the second stimulus bill to appease House Republicans and come to a point of agreement.
Under their previous proposal, they had agreed for a larger economic relief package. However, that was leading to a deadlock in terms of negotiations in the Congress. To further negotiations and come to an agreement regarding the second coronavirus relief package, House Democrats have come up with this new stimulus bill.
This proposal by the House Democrats is still named the HEROES Act and it is to include another round of the $1200 stimulus checks that were provided in the first coronavirus stimulus package as well.
Key Changes In The Second Stimulus Bill
Even though the total package has shrunk, House Democrats clarify that this time the stimulus checks will have more relaxed eligibility criteria and will be given out generously. They aim that more Americans will be qualified to receive money through this stimulus bill than the one in effect before this.
Monetarily, the scheme remains unchanged as House Democrats propose that individuals will receive $1200, married couples applying jointly will receive $2400 and for $500 eligible dependents, just like the first stimulus bill.
Students within the age-limit of 24 as well as adult dependants will also be eligible for the $500 economic impact payment. The first bill, on the other hand, only considered children within the age-limit of 17 eligible for the $500 dependent pay.
Another change in the second stimulus bill that House Democrats have proposed is that the relief money can go to people with Taxpayer Identification Number and not only the Social Security Number as was required in the first stimulus bill.
Other changes include the second stimulus bill payments to be safeguarded from garnishment. Also, the payments will not be reduced for past due child support as opposed to the first stimulus checks.
House Democrats also seek to mend the payment delivery delays and errors that happened with the first stimulus bill.