This second stimulus check proposal would pay the most.<\/p>\n
Here\u2019s what you need to know.<\/p>\n
As Congress weighs sending a second round of\u00a0stimulus\u00a0<\/strong>checks to taxpayers in the next Covid-rescue bill,\u00a0the\u00a0<\/strong>focus\u00a0has been primarily on another\u00a0one-time<\/em>, $1,200 payment. That\u2019s what is included in\u00a0the Heals Act (Health, Economic Assistance Liability Protection & Schools Act), a ~$1 trillion package<\/a>\u00a0that Senate Republicans, under the leadership of Sen. Mitch McConnell (R-KY), proposed in July. However, there is also a newer Republican proposal:\u00a0a\u00a0one-time, $1,000 check<\/em>. Sen. Mitt Romney (R-UT), Sen. Marco Rubio (R-FL), Sen. Bill Cassidy (R-LA) and Sen. Steve Daines (R-MT) proposed the Coronavirus Assistance for American Families Act, which would provide a second check, or Economic Impact Payment, of $1,000. These are not the only second\u00a0stimulus\u00a0<\/strong>check proposals. For example, President Donald Trump said that it\u2019s\u00a0possible that second checks may be higher than $1,200<\/a>. There is also a Senate Democratic proposal for\u00a0$2,000 a month, although this has no chance in the Senate. At first glance, a $1,200 second\u00a0stimulus\u00a0check seems financially superior to a $1,000 second check. However, it\u2019s important to understand the details to determine\u00a0how much you can get from each proposal.<\/em><\/p>\n Many Americans are asking: How much is the second stimulus check?<\/em> The better question is \u201cHow much will I get with the second stimulus check?<\/em>\u201d The headline amount is one thing; how much you and your family will receive is another. First, it\u2019s important to note that while a second stimulus check is likely, it\u2019s not guaranteed. Second, Congress has not reached an agreement on a second stimulus check, including the requirements. Third, while Congress is leaning toward a $1,200 second stimulus check, Congress has not determined the amount of a potential second stimulus check. Importantly, the total amount you can receive in these two proposals is different, <\/em>particularly if you have dependents.<\/p>\n Which second stimulus check is more?<\/em> In both the Heals Act ($1,200 second stimulus check) and Coronavirus Assistance for American Families Act ($1,000 second stimulus check), the current eligibility requirements are the same as the Cares Act, which is the $2.2 trillion stimulus package that included the first stimulus check. To receive the full amount of a second stimulus check, under both these proposals, your adjusted gross income must be no more than $75,000 for individuals and $150,000 for married\/joint filers. The stimulus check amount would be reduced by $5 for every additional $100 of adjusted gross income above this threshold. If you earn more than $99,000 (individuals) or $198,000 (married\/joint filers), you would not be eligible for a second stimulus check under these proposals. There seems to be bi-partisan support for these income thresholds, so it\u2019s unlikely that Congress would change these requirements. Let\u2019s compare each plan:<\/p>\n Let\u2019s assume that you are an individual with no more than $75,000 of adjusted gross income or a married\/joint filer with no more than $150,000 of adjusted gross income. If you are an individual or married\/joint filer, the $1,200 second stimulus check would provide you more money than the $1,000 second stimulus check proposal. Why? Under the $1,200 stimulus check plan, individuals would receive $1,200, while married\/joint filers would receive $2,400. If you have dependents, however, here\u2019s how the $1,200 stimulus check proposal would work:<\/p>\n A family of four, with married\/joint filers, could receive up to $3,400 under this proposal:<\/p>\n Importantly, many Democrats support a $1,200 dependent payment, rather than the $500 dependent payment in the Heals Act. For example, House Democrats passed the Heroes Act, which included a second stimulus check of $1,200 and a dependent payment of $1,200. While it\u2019s less likely that the Republican-led Senate will agree to a $1,200 dependent stimulus payment, a family of four would receive $4,800, or $1,400 more<\/em>, under the House Democrats\u2019 stimulus plan. That said, the Senate won\u2019t pass the Heroes Act in its current form.<\/p>\n Let\u2019s also assume that you are an individual with no more than $75,000 of adjusted gross income or a married\/joint filer with no more than $150,000 of adjusted gross income. Individuals would receive $1,200, while married\/joint filers would receive $2,400. If you have dependents, however, here\u2019s how the $1,000 stimulus check proposal would work:<\/p>\n A family of four, with married\/joint filers, could receive up to $4,000 under this proposal:<\/p>\n If you have dependents, the $1,000 second stimulus check would provide $600 more<\/em> to a family of four than the Republican second stimulus check in the Heals Act. Under this proposal, adults and children with a valid Social Security Number \u2014 regardless of age or dependent status \u2014 each would receive a second stimulus check of $1,000. American citizens who are married to foreign nationals also would be eligible to receive a second stimulus check. Like the $1,200 second stimulus check proposal, the $1,000 second stimulus check proposal has no age cap for dependents, which means that all high school students, college students and other adult dependents would not be excluded from a second stimulus check or dependent payment on the basis of age alone.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" This second stimulus check proposal would pay the most. Here\u2019s what you need to know. Second Stimulus Checks As Congress weighs sending a second round of\u00a0stimulus\u00a0checks to taxpayers in the next Covid-rescue bill,\u00a0the\u00a0focus\u00a0has been primarily on another\u00a0one-time, $1,200 payment. That\u2019s what is included in\u00a0the Heals Act (Health, Economic Assistance Liability Protection & Schools Act), a […]<\/p>\n","protected":false},"author":2,"featured_media":10783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"This Second Stimulus Check Would Pay The Most","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[5],"tags":[],"class_list":["post-10782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.funminews.com\/wp-content\/uploads\/2020\/08\/Stimulus-Check-II.jpg?fit=960%2C640&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/10782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/comments?post=10782"}],"version-history":[{"count":0,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/10782\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media\/10783"}],"wp:attachment":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media?parent=10782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/categories?post=10782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/tags?post=10782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nHow much is the second stimulus check?<\/h2>\n
\nWhich second stimulus check is more?<\/h2>\n
\n$1,200 second stimulus check<\/h3>\n
\n
\n$1,000 second stimulus check<\/h3>\n
\n