قالب وردپرس درنا توس
Home / Tips and Tricks / Will there be a second round of coronavirus stimulus checks? Here's what we hear

Will there be a second round of coronavirus stimulus checks? Here's what we hear



  money-banknotes-wallet-coin-dollar-0939

Washington is already talking about a second round of stimulus payments for US taxpayers.


Angela Lang / CNET

Visit the WHO Web site for the latest updates and information about the coronavirus pandemic.

The IRS has not completed sending stimulus payments of up to $ 1,200 per person to millions of Americans, and some are already wondering if these checks will do enough and if there will be a second coronavirus relief bill. The " financial effects of payments " issued by the IRS through checks in the mail and through direct deposit to banks were introduced as a one-time payment designed to help mitigate the financial impact caused by the outbreak of COVID-19. [19659006] With more than 33 million people submitting unemployment claims for the first time since mid-March, unemployment reached 14.7% and the country bordering a recession that economists predict globally may be the worst since the Great Depression, talk about a second 2020 stimulus check to keep people afloat already begins in Washington.

Today, although there is not enough broad support in Congress to pass a second stimulus package for individuals – some call the "CARES 2 Act" – a handful of congressional ideas are discussed and caught. Here's what we know about a second round of stimulus payments in 2020 for individuals.






Now playing:
Watch this:

Coronavirus Stimulus Check: Everything You Need to Know





02:06

Summary: The First Coronavirus Stimulus Package

In an effort to disrupt the financial effects of the coronavirus outbreak, President Donald Trump signed the March $ 2 trillion economic stimulus package (technically a relief package) which included payments of up to $ 1,200 to eligible U.S. taxpayers and $ 500 for each child 16 or younger. The IRS began sending checks in mid-April, and by the end of the month it had made more than 122 million payments. The rollout was uneven, with some recipients wrestling with the tools provided by the IRS to help register and track their checks.

The argument in favor of another stimulus round checks

Since mid-March, more than 33 million American workers who have lost their jobs have applied for unemployment. The actual number of unemployed because governors and mayors locked in their states and cities to stop the spread of coronaviruses is probably higher – perhaps millions higher – because many who are eligible did not file an unemployment claim. With job losses, the country's unemployment reached 14.7%. The recently unemployed together with others who were hit by a financial hit from the pandemic may benefit from having more money right now to spend.

The argument against a second wave of relief payments

Some in Washington, including Senate Majority Leader Mitch McConnell, question whether the relief measures have met their goals and want to use the brakes before approving more federal spending to evaluate the effects of the already approved relief packages. McConnell and others are also worried about how additional stimulus packages will increase the historic federal deficit.

What is the Proposal for a Second Round of Financial Stimulus Payments

Instead of a one-time payment, some in Washington claim a more effective way to help struggling US taxpayers and stimulate the economy is through payroll tax cuts that allow workers to hold on to more of their money each paycheck.

President Trump has cast his support behind this strategy to get more dollars into the hands of taxpayers. "I want to see a payroll tax cut," he said at a viral town hall meeting earlier this month. "We won't do anything unless we get a payroll tax cut."

A payroll tax cut could help them with jobs but would not benefit anyone who is already without work and without pay, some economists say.

Others in Washington are looking at broader, long-term approaches to help those affected by the economic crisis in coronavirus. For example, Congress members Ro Khanna and Tim Ryan propose giving many US residents $ 2,000 a month for at least six months to see their households through the crisis. Senator Mitt Romney proposed a similar plan for $ 1,000 a month, and Senator Josh Hawley supports monthly payments to families with children.

With a longer view, Senators Kamala Harris, Ed Markey and Bernie Sanders introduced legislation that would provide a monthly check of $ 2,000 to three months after the end of the pandemic. Representatives Rashida Tlaib and Pramila Jayapal propose to extend the payments by one year after the end of the crisis.

What will happen next

Although some in Congress are working to gather support for additional support, neither the House nor the Senate has so far passed a bill for a second round with the help of payments for individuals. We keep an eye on developments and will update this article frequently.

Meanwhile, learn about the financial resources available to you. Here is what you should know about unemployment insurance what you can do if you lost your job what to know about drafts and delayed car payments and how take control of your budget .






Now playing:
See this:

How to insert your stimulus check and not get …





02:23


Source link