Second stimulus check would give even MORE money to families with payments including up to an extra $600

A SECOND stimulus check would give even MORE money to families, with payments including up to an extra $600.

The extra coronavirus emergency cash could come under the Coronavirus Assistance for American Families Act, which was introduced by four Republican senators last Thursday.

Individual adults and children would get $1,000 stimulus checks under the bill, proposed by Marco Rubio of Florida, Bill Cassidy of Louisiana, Steve Daines of Montana, and Mitt Romney of Utah.

This means a family of four would receive $4,000 – $600 more than the first round of checks.

Under the CARES Act, in the first round of payments, adults received $1,200, with an extra $500 per child.

The new bill would also close a loophole in the first round of coronavirus checks, that excluded adult dependents – like some people with disabilities and college students – from getting payments.

“This will increase the amount of money Montana moms and dads can receive in their direct checks for each child and other dependents including those with disabilities," Daines said in a statement when the bill was announced.

Individuals making less than $75,000, and couples making up to $150,000 would be eligible for the emergency money.

Checks would go to those with Social Security Numbers – so those who are foreign nationals or just have individual tax identification numbers would not qualify.

The bill's proposal comes as members of Congress are quickly trying to hash out the details of another stimulus package before heading into a month-long recess on August 7.

If no bill is passed before then, Americans would have to wait a month until negotiations could resume.

However, if a bill is passed, Treasury Secretary Steve Mnuchin said Americans could start seeing their money within days.

Democrats in May unveiled the $3trillion HEROES Act, which included $1,200 for individuals – or up to $6,000 per family.

Last week, Republicans revealed their own $1trillion package.

As negotiations are ongoing between Democrats and Republicans, the Trump administration said it's debating "unilateral actions" to help Americans.

 "As the negotiations continue to progress as a snail's pace, the administration is considering a number of options that might be available without congressional legislative action," a senior administration official told Fox News on Monday.

Democrats are demanding $600 unemployment benefits that ran out July 31 to be extended – but Republicans have said that much extra assistance is not necessary, and pushed for a $200 boost instead.

Coronavirus cases continue to climb past 4.7million, with more than 155,000 deaths as of Tuesday.

As much of the country has gone back into lockdowns due to rising cases, another 1.4million people last week filed for unemployment, and the GDP was down nearly 33percent.

One top Federal Reserve official called for a "really hard" lockdown of four to six weeks to save the economy amid growing COVID-19 numbers.

Source: Read Full Article