Stimulus Check: What did Mnuchin say about the second payment?

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Republican senators prepare to present their proposal for the next coronavirus relief package, which is set to include a second stimulus check.“Republicans want to send second round of direct payments to American households,” Senate Majority Leader Mitch McConnell said Thursday after the announcement the bill, called CARES 2, due for release on Monday.

What might the next test raise look like?

Speaking earlier this month, US President Donald Trump told Fox he was eager to get a second stimulus check to be more generous than those sent under the CARES law, a $ 2.2 billion relief package signed in March.

« I actually support more than the Democrats […]Trump said. ” I want more money for people so they can spend it. ”

However, Treasury Secretary Steve Mnuchin, who worked with Senate Republicans on CARES 2, Thursday indicated that a proposed second check, or economic impact payment, should be a repeat of its equivalent under the CARES Act, both as regards its amount and its eligibility conditions.

« We’re talking about the same layout as last timeMnuchin told reporters, according to The Hill. ” Our proposal is therefore exactly the same as the last time. »

CARES Act stimulus checks: how much?

The CARES Act stimulus checks, which began circulating in mid-April, saw people earning less than $ 75,000 a year receiving a payment of $ 1,200., with joint filers over less than $ 150,000 sent $ 2,400.

Checks of an increasingly small amount were also made available to the most remunerative employees., up to a final income limit of $ 99,000 for individuals and $ 198,000 for co-filers. In addition, households were able to claim an additional $ 500 per dependent aged 16 or younger.

In addition to dependents over 16, those not listed in the CARES Act checks also include immigrants without a social security number. Adopted by the House of Representatives in May, the HEROES law supported by the Democrats offer a second check whose eligibility would be extended to include these groups – and give them retroactive access to the money from the CARES law.

however, $ 3 billion relief bill met resistance in Republican-controlled Senate, where he was described as “dead on arrival”.

An income limit of $ 40,000 had been suggested

Fifteen days ago, McConnell hinted that a second check could have a significantly lower income threshold than the CARES Act – a measure that would cause 20 million more Americans to miss the payment.

« The people who in my opinion were hit the hardest during this episode are people making $ 40,000 a year or less“, He told reporters.

He added: “Many of them work in hospitality, hotels, restaurants – we’re going to be keenly aware of that particular segment of our population going into this next package that we will put together in the coming weeks. ”

In the days following McConnell’s remarks, however, Bloomberg revealed that an income ceiling as low as that was “not considered probable” by a source close to the discussions on the next bill – and Mnuchin’s recent comments seem to confirm this report.

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