With support from both sides of the United States government, Americans could still hope to receive their second stimulus check before the year ends. This week, Senate Republicans are expected to propose a bill worth around $500 billion that would not, however, include direct payments.
Potential stimulus check amount
Resumption of talks about the next coronavirus relief package is almost guaranteed, but experts say the White House would most likely deny it. Trump's administration could provide executive orders that would distribute stimulus payments taken from pandemic program funding.
According to CNET, each family's amount of stimulus money can be estimated based on several factors. The amount you could expect is based on the previous stimulus check given out, which amounted to $1,200, which used an individual's adjusted gross income.
However, your whole family can also be eligible for allowances of up to $2,400 if you have a spouse you file taxes jointly with and additional payment for independents you may have.
The first stimulus check only gave out allowance for dependents aged 16 years and below for $500 each. Support from both sides of the government, on the other hand, plans to include more people by increasing the age threshold, potentially giving your family more direct payment in the second stimulus than the first one.
Based on an estimation of a stimulus check calculator, an individual could receive stimulus payment ranging from $900 to $1,200.
With several proposals with varying amounts of funding, the exact amount your family could receive with the next relief bill will be different.
How much direct payments could go for
Republicans support the HEALS Act, which would not limit the amount of direct payment a whole family could receive. This bill's difference over the previous CARES Act from March is that it would include dependents over the age of 16 in being given a $500 allowance.
On the other hand, Democrats have proposed the Heroes Act, limiting the amount your household can get to $6,000 for a family of five or more. In summary, the bill gives each individual $1,200, including dependents, and will limit the dependents to a maximum of three per family.
This week marks the Senate's return while the House of Representatives returns from its recess on September 14 and potentially continued talks about the next stimulus package. The negotiations are expected to be the top priority discussions as millions of Americans suffer amid the coronavirus pandemic, as reported by Forbes.
Recently, the Internal Revenue Service (IRS) said it would contact nine million American citizens who may be eligible for a stimulus check but have not claimed their payments yet.
According to CBS News, the majority of the claimants are those who do not file a federal income tax return. The agency gave the people on the list until October 15 to register via their website's non-filer tool to claim their stimulus checks before the end of the year.
The IRS said that approximately 160 million Americans have successfully received their direct payments.