Is There a Check Headed to You?
As initial jobless claims begin to climb for the first time since March, national leaders on both sides of the aisle are considering another stimulus package intended to help those struggling financially.
According to an article from Forbes on July 23, the Republicans will introduce their version of a stimulus bill immediately. The leader of Senate Republicans wants a second round of checks to taxpayers similar to the $1,200 sent out earlier this year under the CARES Act. However, the amount for each individual is unclear. There have been numerous proposals ranging from a single $1,200 check to $2,000 per month. It has also been suggested only those who earn less than $40,000 per year would be eligible, but that limit probably won’t be included in the new package.
That package could face opposition from the Democrats who control the House of Representatives. They are advocating more money be included for reopening schools and childcare facilities than do the Republicans, as well as a continuing allocation to support states, towns and cities which, they argue, could face budget shortfalls or bankruptcy without intervention.
The bottom line, though, is when would the proposed money arrive in citizen’s bank accounts and mailboxes?
If the two sides could come to an agreement before Congress recesses for its summer break the money could arrive by late August.