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Monday, October 25, 2021

If You Receive A Stimulus Check 2 Soon, The Payment Might Be Too Small

There are quite a lot of questions surrounding the possibility of a stimulus check 2, and yet Congress seems to have no answers. Currently, there are quite a few possibilities on the road- one of them being a stimulus package that wouldn’t contain the stimulus check 2. The other possibility involves a stimulus package with a stimulus check which wouldn’t be of the same amount. Also, it doesn’t look as if this year would actually provide enough time to the legislators to chalk out a proper stimulus package with a stimulus check. 

Where Does the Congress Stand on the Stimulus Check 2?

The current week saw Treasury Secretary Steven Mnuchin present a new proposal to the White House that would actually see a stimulus check 2 of $600. This would verily see the stimulus check cut entirely in half from what the federal government had provided last time. Unfortunately, this proposal is also going to do away with several unemployment benefits that the government had put in place previously. If the proposal passes, the money that you will get will obviously be less. But even if the $1200 stimulus check 2 gets passed, there is a possibility that the money in your household would still be less. 

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Remember, there are a few clauses to this program. If you have recently started on a new job that provides you with an income that increases your AGI, you might not be chosen for the Stimulus package. The first stimulus check did do this, and the stimulus check 2 might cut you off to if you pass through a certain AGI. 

One difference that the stimulus check 2 might have with the CARES Act, is that the stimulus check can be used in whichever way you want- the CARES Act has a provision for Child Support that needs to be filled.

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