A second stimulus check is in the works!
July 16, 2020
Calling all heroes.
The Health and Economic Recovery Omnibus Emergency Solutions Act (aka. HEROES Act) is a $3 trillion stimulus bill that includes a second stimulus check. What are the details? When will it be sent out? How much will you get?
Holding Pattern The Democrat controlled House of Representatives sent the stimulus package to the Republican controlled Senate but it's on-hold until July 20th when everyone returns from a break.
Nothing is Decided Yet: Those Republican leaders were initially skeptical of a second stimulus but have softened to the idea with hopes that the package will be “much more focused on jobs.” They have also hinted at lowering the level of income eligibility.
DEM & GOP Negotiations? These objections are being questioned by Democrats who also want to see an extension of unemployment benefits. Republicans fear people won't go back to work if benefits go on and on; Dems fear they can’t go back to work because jobs are on lockdown. Both will need to compromise.
Ready to “Support Jobs” through a Vacay? Lawmakers are floating the idea of a travel tax credit offering tax credits of $4,000 per adult to take a vacation 50 miles from home. ($8,000 for couples plus $500 for each qualifying child) Not bad but will it make a difference?
Snapshot: If the HEROES Act were to go forward in its present form then a stimulus check of up to $1,200 would go to qualifying individuals and each dependent, up three. To see how much you would receive under the HEROES Act you can check this stimulus calculator.