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Any benefit that a new stimulus proposal can provide if Congress can make an agreement

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If Congress provides another incentive, here’s what you can get, in addition to another direct payment.

Sarah Tew / CNET

The executive order and three memoranda signed by President Donald Trump are designed to address a handful of things, including student loans and unemployment, but they leave plenty of room for negotiators – who paused last week – to return to the table and reach an agreement on a larger number of issues, from small business support to pay and a meaningful stop to evictions to another look at improved unemployment benefits.

While negotiators agree on one second stimulus control, av up to $ 1,200 and qualifications that are similar to the first check, Democrats and Republicans continue to say they are willing to resume talks.

“We can not make a deal without the Democrats. And I think it’s time for everyone to come back to the table and let’s get an agreement,” Senate Majority Leader Mitch McConnell told Fox News on Tuesday.

On the other hand, “Republicans must come back to the negotiating table!” Senate Minority Leader Chuck Schumer tweeted Monday.

Here are the key benefits that are discussed that can directly affect you and how likely we are that they will be part of a final relief package, if there is one. And here’s how it’s proposed HEALTH and heroic deeds differ from the CARES Act which went in March. We update this story frequently.

The second stimulus control aims to help people spend

What it is: A payment is sent to qualified individuals and families, based on annual income, age, number of dependents and other factors. The first stimulus checks approved under the CARES Act has gone out to over 160 million Americans – as a check, as a prepaid credit card or via direct deposit. But there have been problems and after three months some are still waiting for their incentive payment.

How it can help you: The payment is not taxable and you can use it however you want – to pay for food, housing, clothes and so on. The idea is that spending checks will help the economy recover faster.

Why we think a second check will pass: The CARES Act approved payments of up to $ 1,200 per qualified adult and the HEALS Act does. The House of Representatives’ Heroes Act demanded $ 1,200 in stimulus payments, but for more people. The White House supports another round of checks, making payouts a likely part of the final bill.

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The HEALS Act proposes to give eligible Americans stimulus checks the same size as those issued in March.

James Martin / CNET

Additional unemployment benefits for people without work

What it is: One additional weekly check for persons who applied for unemployment for the first time or who had already collected unemployment. The CARES law provided an extra $ 600 per week, but it officially benefits went out on July 31st; Legislators are investigating another increase in unemployment now.

How it can help you: An extra weekly payment in addition to the regular unemployment benefit gives individuals and families a step up. Shutting it down or reducing it can be devastating for unemployed workers and the economy.

What Trump’s memorandum provides: It aims to create a program to provide $ 400 per week with a (retroactive) start date of August 1, ending when the program reaches “$ 25 billion or for weeks of unemployment ending by December 6, 2020, whichever occurs first.” The plan requires states to cover some of the costs, and some governors say the administration’s plan does not go far enough.

Where the negotiations stood before: Republicans support the extension, but at a reduced rate. Democrats support an extension of the current rate of $ 600 and have ignored the Senate proposal, which would extend benefits based on 70% to 75% of lost wages, starting at $ 200 a week and eventually increasing to $ 500 a week with state support. The benefits expired without a short extension in place.

An eviction moratorium is still uncertain

What it is: This plan would help tenants pay rents and help landlords with expenses with less rent money coming in, especially since the United States is facing a potential eviction and housing crisis that could lead to up to 40 million people losing their homes. That’s about 12% of the U.S. population.

How it can help you: The rental assistance program would temporarily help you pay the rent if you are eligible, put a stop to evictions for a year and help cover the cost of rental properties due to lack of rent payments. The previous protectors have passed.

Where it now says: Trump’s executive order included a commitment to look at renewing eviction moratorium, but no direct action has been taken yet.

“The Secretary for Housing and Urban Development shall take measures, where appropriate and in accordance with applicable law, to promote the ability of tenants and homeowners to avoid eviction or foreclosure due to financial difficulties caused by COVID-19,” the executive order states.

“It’s less of an executive order and more of an ‘executive proposal,'” Schumer tweeted on Monday.

Emission protection was not part of the Senate proposal, but has been a topic that Trump has pushed for inclusion. As with unemployment insurance, Congress had initially seen to extend this separately while it works on the final bill.

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Payroll tax cuts may not make the cut in the next bill for coronavirus.

Sarah Tew / CNET

Wage protection programs to encourage companies to retain employees

What it is: Intended to help you keep your job, the Paycheck Protection Program provides for small business loans as an incentive to keep employees on the payroll.

How it can help you: PPP is intended to keep employed workers who would otherwise have lost their jobs during the pandemic. The program began with a rocky start, and it is not clear the PPP met the goals set by Congress for it.

“Overall PPPs have not retained many paychecks,” wrote Joshua Gotbaum, a guest researcher in economic studies at the Brookings Institution, in July. “A thorough study found that small business owners eligible for PPP fired people as quickly as other companies,” he said.

Why we think it could be extended“The Republican bill will target the hardest hit small businesses,” said Maine Senator Susan Collins during the drafting of the bill. This includes those with revenue losses of 50% or more compared to last year.

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A tax relief can encourage employers to retain employees.

Angela Lang / CNET

Tax breaks for employee livelihoods can help pay workers

What it is: Under the program, an employer can receive a refundable tax credit for salary paid to an employee during the pandemic. The employer can then use the credits to deduct – and even get a refund for – taxes they owe.

How it can help you: Again, it is not a direct payment to you, but the program encourages companies to keep workers on the payroll.

Why we think it can happen: The HEALS Act contains additional tax relief for companies that employ and re-employ workers, and the democratically supported hero law is also based on the tax relief that was included in the first CARES law. And there is additional bipartisan support besides.

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Stimulus distance on Capitol Hill


Reimbursement for work of as much as $ 450 each week

What it is: A temporary weekly bonus for unemployed workers who secure a new job or are exercised on top of their wages. As suggested by Senator Rob Portman, a Republican from Ohio, the bonus would be $ 450 per week.

How it can help you: According to Portman’s plan, the weekly bonus would go to laid-off workers who return to work.

Why we think it might not happen: The White House in May expressed interest in the bonus and Portman continues to support the idea, but it is not part of the proposal McConnell and the other Republican senators presented.

Trump’s reduced payroll tax may temporarily put more money in your bank

What it is: For several months, Trump has been pushing for the idea of ​​including temporary tax breaks in his salary in the next stimulus package. The executive order that Trump signed includes postponing certain taxes retroactively from 1 August to December for people earning less than $ 100,000.

How it can help you: If you have a job, a payroll tax cut would allow you to keep more of your income every check for now. The plan would not help those who are unemployed and do not receive a paycheck. The 32 million people who applied for unemployment insurance on July 18 would not benefit. Workers would still have to pay back those taxes the following year, the New York Times reported.

Will it hold up? Trump signed a memorandum on August 8 to pass legislation to reduce wages, but it is not clear if he has the legal right to do so. Usually, economic decisions such as tax cuts are approved by a congressional vote, not a presidential order. We have to wait and see if legal action is taken against the order. Nor proposed hero law or senate plan includes a payroll tax cut.

Until we know for sure what the final stimulus bill will provide, there are some resources to help you through the financial crisis. We are watching Corona Virus difficulties and unemployment insurance; what you can do if you have lost your job; what to know about drafts and late car payments; how Take control of your budget; and if you can get two refund checks from the IRS.

Julie Snyder contributed to this story.

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