Stimulus check 2 which deals with the 2nd round of direct payments ($1200) is struggling due to a lack of negotiations and a shift in priorities.
The influence that Biden’s administration will have on the package is still unclear but Biden has spoken about his Emergency Plan.
Speaking to MSNBC, Nancy Pelosi, the House Speaker sounded optimistic. According to Mitch McConnell, the leader of Senate Majority, the legislation won’t happen till early 2021.
The eligibility of stimulus check 2 remains the same as stimulus check 1.
Factors Determining Stimulus Check 2
To make stimulus check 2 a reality, firstly negotiations need to materialize and a deal is less likely to happen before the change of presidency.
It seems that the amount from stimulus check 2 will be the same as that of stimulus check 1. As of now, neither the HEALS Act nor the Heroes Act has been put to a vote. Meanwhile, some moderates have introduced a compromise bill that is valued between $1.5 trillion – $2 trillion.
The difference between stimulus check 2 and 1 is that it will include a $500 payment for the dependent. According to the reports, this stimulus check 2 is given protection from garnishment by banks and debt collectors. Stimulus check 2 is the need of the hour due to high rates of unemployment and for helping Americans pay their bills.
There are also talks of $2000 monthly payments but that is not quite possible because it is too expensive and there is difficulty in targeting that financial support.