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Tuesday, August 9, 2022

Stimulus Check Round 2 Isn’t All Lost – Here’s How It Looks Currently

All seemed lost for stimulus check round 2, this Tuesday (Oct, 20) after House Speaker Nancy Pelosi’s deadline for the pre-election relief bill passed. However, later that evening, Pelosi put forward some chances of the second round of stimulus check.

After a meeting with Steven Mnuchin, Treasury Secretary, a memo was released by Pelosi that presented the current status of a proposed bill that would have the stimulus check 2 included in it. The Speaker claimed the discussions on Tuesday brought forward more of common ideas and made the situation clearer.

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Pelosi added, since both the parties are keen on seeking a middle ground of agreement, the discussion could take place after the deadline was stated this Tuesday. 

Stimulus check round 2 deal before elections

The Speaker gave a statement that brings new hope to the chances of the stimulus check 2 package deal ready before the presidential elections next month. The discussions are likely going to get carried forward to Wednesday as well. The most trying part of the negotiations being the size of the planned stimulus package. It is not the first time that the House Democrats and Pelosi proposed stimulus bills over $2 trillion.

On the other hand, a proposal of a skinny bill is still being stressed by the Senate GOP, which leaves out the second round of $1,200 checks for eligible taxpayers of America. Previously, a $500 billion plan did not get much encouragement from the Senate. Therefore not much is expected from this edition either.

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Meanwhile, President Trump, as recorded by Fox and Friends, claimed he is willing to spend much more than the Democrats. He added that even though not all Republicans agree with him currently gradually all will because it is for people who fell into a situation they did not deserve.

Where do you stand? – Qualification for Stimulus Check 2

Keeping the first stimulus check of the equal sum in mind, eligibility for the full payment receivers could be calculated. Even though the qualifying factors of stimulus check round 2 are yet not fixed, the President claimed he would pass a bill with $1,200 checks.

Following the CARE Act of March, the government allowed a $1,200 benefit to individuals making $75,000 and $150,000 to couples making the sum annually. 

Those who earned above $99,000 and $198,000 respectively got prorated checks, while people who earned above the upper limits received nothing. The stimulus check round 2 calculators can be used to receive a clearer picture of this situation.

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