FOX BUSINESS - As coronavirus incidences throughout the United States continue to rise, the case for issuing another round of direct payments to households appears to be growing stronger – so who might be eligible for money and when?
The Trump administration, and leaders from both political parties, have recently come out in favor of issuing more checks to some people, though this time around relief may be more targeted to Americans who need it the most.
Another round of stimulus payments could be distributed to people earning less than $40,000, Senate Majority Leader Mitch McConnell has said.
Under the CARES Act, the payments are $1,200 for each adult with adjusted gross incomes of up to $75,000. The threshold for married couples is $150,000 and they are eligible for $2,400 and $500 per child.
McConnell did not expand on the $40,000 figure, and it is unclear whether it would be double for married couples filing jointly.
The administration has not come out in favor of that threshold, but lowering income restrictions may make sense if the White House hopes to keep the cost of the package around $1 trillion or less.
However, Trump has said that he wanted payments to be larger than what has been proposed by Democrats – apparently alluding to the stimulus check proposal in the $3 trillion HEROES Act passed by the Democratic-controlled House in May.
That bill called for another round of $1,200, with similar criteria to the first, although it included more money paid to families with dependent children.
So when can you expect more details on a potential second round of stimulus cash? McConnell said a potential bill would be detailed later this month, when both chambers of Congress are back in session – before lawmakers leave for August recess.