Second Stimulus Check Benefits and Worth: Is It $450 per Week or $1,200 a Month?

The United States government could extend the stimulus checks that have supported people amid the coronavirus infection. Millions of Americans have severely suffered through the economic impacts of the global pandemic.

Which one officials will choose is still unknown, and authorities are still discussing the exact amount that would go into the citizens' pockets, as reported by CNBC.

Several financial supports

In the first part of the COVID-19 crisis, Congress passed a $2 trillion package that aided citizens affected by the pandemic by distributing up to $1,200 checks per adult, including low- to middle- income individuals. Families were also given $500 for every child that was under 17 years old.

A survey by WalletHub revealed that 84% of Americans are looking forward to another stimulus check as they require additional financial assistance. In early April. However, Bankrate discovered that 31% of the nation noted that the first stimulus check would not last more than a month.

There have been more than 40 million files for unemployment since the beginning of coronavirus spread. Chief Financial Analyst at Bankrate, Greg Mcbride, said that the number is only one part of the story.

Mcbride said that there are a lot of workers that still have their jobs but are being paid much less than before the coronavirus infection came. "They're not making the money they were before," he added.

The first stimulus check that amounted to $1,200 was distributed to about 80 million people, but according to Forbes, several senators have called for the release of a $2,000 monthly stimulus check.

Previous 2020 presidential candidates Kamala Harris and Andrew Yang have expressed their support to distribute a monthly income to the millions of Americans that have lost their jobs and those who have been given less pay due to the coronavirus pandemic.

The senators have called the distribution as a "safety net" that keeps people from falling into poverty or fall deeper into it.

Also Read: COVID-19 Stimulus Checks Fund Second Wave Comes in Paper or Card?

For the people

Some Republicans have also voted for a $450 back-to-worn bonus that would be given every week. On the other hand, some officials are working to extend the previous $600 per week unemployment benefits that have been distributed to the citizens.

The monthly $2,000 proposal includes distributing an additional $2,000 for every child up to a maximum of three children, as reported by Politico.

"The government should be here for the people in a moment of crisis," said Harris in a webcast on The Appeal website on Monday.

Harris noted that people, in reality, have recurring expenses that a one-time financial aid cannot hope to cover.

Government officials have passed a bill that would distribute a $3 trillion fund to the United States citizen with another set of $1,200 stimulus checks.

Similarly to the first, it would give out $1,200 to individuals or $2,400 to married couples. Still, additionally, it would give out $1,200 for each child in the household up to a maximum of three children, which is an increase from the previous $500.

If it passes, another proposal will extend the $600 per week unemployment benefit aid that would last until January of next year, from the current end of July.