AMERICANS could see a second $1,200 stimulus check soon – but only if Congress can restart talks it left on the table in August.
“I’m optimistic,” House Speaker Nancy Pelosi said Friday when asked about Congress’ ability to either pass a larger stimulus bill or carry out executive action to release pandemic assistance funds for eligible adults.
“I do think that we should have an agreement. That’s what we all want,” Pelosi continued. The speaker’s remarks come in direct contrast to Republican Senate Majority Leader Mitch McConnell, who said he doesn't see an agreement between parties before the November 3 election.
Pelosi also went on to slam Republicans for a $500 billion proposal Thursday rejected in the Senate. Trump said Democrats rejected the bill to hurt him at the polls in November.
The CARES Act had no limit on the number of children that could be counted as dependents, so as long as they were under 17, families could receive $500 per dependent. For a family of six kids under 17 and two adults, the full amount possible to receive would be $5,400.
The two proposed acts in Congress change the eligible amount for families. Families of five five or more could receive up to $6,000 depending on which legislation is passed, a significant increase from the CARES Act passed in March.
Congress left talks at a standstill in August when deciding between the Republican-led HEALS Act and the Democrat-led Heroes Act.
The HEALS Act does not mention a cap on the amount families can receive and it also does not limit dependents as those under 17. The Heroes Act instead places a $6,000 cap on households of five or more, proposing a $1,200 check for every individual in the family, up until three dependents per family.
Despite their differences, both parties agree a second round of stimulus checks is warranted as the COVID-19 pandemic continues impacting the economy and as the U.S. unemployment rate hovers at around 8.5 percent.
Both parties also agree the second round of stimulus checks should be far more overreaching than the first round, enabling an even larger percentage of the U.S. population to receive checks.
Stats have shown over half (52 percent) of Americans paid down debt with their first stimulus checks. A third said they mostly saved their checks, while 15 percent said they spent it.
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