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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