Stimulus Check Update: Pelosi Optimistic on Passing Second Stimulus Check Legislation

The executive department can draw money from the ongoing pandemic programs to help eligible adults and their dependents, who cannot avail their own stimulus check. If this became reality, the approval of the possible second stimulus check worth $1,200 of stimulus check can be expedited if Congress can restart talks to pass a larger bill.

House Speaker Nancy Pelosi was very optimistic as she had shared on Friday about the prospects of passing legislation which includes the second stimulus check.

The House Speaker also added she does not think that there's a need for an agreement as that is all we want.

Contrary to the comments of the House speaker, Mitch McConnell, the Senate Majority Leader shared he doubted that an agreement could be finalized before the election in November, CNET.com reported.

The constant thing in this situation is that both parties approve another set of checks and the funding should be casted to a wider range of people compared to the first set of economic impact payment. And because of that, here are some of the possible scenarios that will be happening once the stimulus check will be released.

How to Calculate your Stimulus Money

Putting up in pieces on how much stimulus amount can be received can be inaccurate as the second batch of the financial aid can be tricky but we can have an estimated amount of it.

Last stimulus gave $1,200 aid to individuals according to guidelines which is also based on each adjusted gross income along with the set of rules to identify the amount that you can receive personally.

Aside from the individual aspect of the financial aid, the allowance can also be received jointly together with your spouse and both can receive at least $2,400 if it will also be filed for spouses.

Based on the initial financial aid, only each of the 16-year-old dependents or younger could qualify for the $500 extra for the family total but rumors suggest that more people will be included in the second set of payments.

According to NBC, There are a lot of potential scenarios that could happen based on the stimulus check calculator, which you can personally use as well to get a more personalized or a specific estimate according to your current situation. The check calculator can be your best guide for the amount that your family could expect from the second check.

But everything depends on the negotiations that will be done, and the total amount that you and your family can get could change.

If based on the CARES Act, the number of children who can receive and can be considered as dependents matters as long as they were under the age of 17.

This HEALS Act seems to be identical to the once set by the democrats at first glance but if you will dig more into the details of this Act by Republicans, you will discover that the difference is only at the capped amount that a family can receive for the second set of financial assistance.