A second stimulus payment coming? Here’s how much you could get

A second stimulus payment coming? Here’s how much you could get

With Congress debating another round of coronavirus-related stimulus measures, there may be another payment for you on the horizon. Here’s what you might expect to see.

House Democrats have already passed another stimulus bill (the HEROES Act) that includes a second round of payments to Americans. The Democrats’ bill includes another $1,200 payment to each American adult, but also sweetens the pot by including $1,200 for each dependent child. (The last bill included just $500 per dependent child under 17). 

The HEROES Act would cap total payments to families at $6,000.

To be eligible for payments, the threshold remains the same as the initial stimulus bill: individuals earning $75,000 or less or married couples earning less than $150,000 would receive the full payments.

Payments would decrease by $5 for every $100 of income above the $75,000/$150,000 line. Those earning more than $99,000 ($198,000 for married couples) would receive nothing.

To see how much you might receive, visit Omni Calculator’s HEROES Act tabulator here.

The Democrats’ bill would also widen eligibility to all individuals with a taxpayer ID number, meaning immigrants who aren’t U.S. citizens might also be eligible. This provision, though, might not survive a vote in the Republican-led Senate.

Don’t count your chickens just yet

It’s important to note that the HEROES Act has only passed the Democrat-led House. The Republican-led Senate has been lukewarm on additional stimulus measures, and has said they won’t review new legislation until July.

President Trump’s Treasury Secretary, Steven Mnuchin, however, has said that a second round of payments are under consideration. 

“It’s something that we’re very seriously considering,” Mnuchin told reporters last week.

While it’s unlikely that all the provisions of the Democrats’ $3 trillion HEROES Act will survive in the Senate, stimulus payments to individual Americans have been popular in both parties, and seem more likely to pass than other elements of the bill.

So far, Congress has approved $3.3 trillion in stimulus measures related to the coronavirus pandemic, including direct payments, grants, loan guarantees and expanded unemployment insurance.

AlterNet Finance has a disclosure policy regarding writers and their investments. You can read it here.

Enjoy this piece?

… then let us make a small request. AlterNet’s journalists work tirelessly to counter the traditional corporate media narrative. We’re here seven days a week, 365 days a year. And we’re proud to say that we’ve been bringing you the real, unfiltered news for 20 years—longer than any other progressive news site on the Internet.

It’s through the generosity of our supporters that we’re able to share with you all the underreported news you need to know. Independent journalism is increasingly imperiled; ads alone can’t pay our bills. AlterNet counts on readers like you to support our coverage. Did you enjoy content from David Cay Johnston, Common Dreams, Raw Story and Robert Reich? Opinion from Salon and Jim Hightower? Analysis by The Conversation? Then join the hundreds of readers who have supported AlterNet this year.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure AlterNet remains independent long into the future. Support progressive journalism with a one-time contribution to AlterNet, or click here to become a subscriber. Thank you. Click here to donate by check.

alternet logo

Tough Times

Demand honest news. Help support AlterNet and our mission to keep you informed during this crisis.