Second Stimulus Check - Here's what you need to know about second stimulus check.
Approximately 88 million Americans have received a stimulus check as part of the $2 trillion financial stimulus package known as the CARES Act. Tens of millions of Americans are still waiting to receive their stimulus check over the coming weeks and months.
What the next stimulus check will look like. Will it be a one-time check? Will it be a monthly check? Will there even be another stimulus check?
Will Americans get a second stimulus check?
Financial technology firm SimplyWise found that 63% of Americans will require a second stimulus check within the next three months to pay bills. ... "We could very well do a second round of direct payments," President Donald Trump said while answering press questions earlier this month.
VALUE
How much will the second stimulus check be?
And when will it come? It seems likely a second round of stimulus checks could appear in some form this summer. Indications are it would be similar in size and qualifications to the first round, meaning something around $1,000 for individuals making $75,000 or less.
The federal government appropriated $290 billion for Round One of stimulus checks. Both parties in Congress and President Donald Trump have hinted at a potential second stimulus check. An early proposal would have issued two, one-time stimulus checks of $1,000 each.
However, the $1,000 stimulus check proposal became the $1,200 check proposal under the CARES Act. If there is a second stimulus check, a one-time stimulus check is more likely than a monthly stimulus check.
ELIGIBILITY
The qualifying requirements would be even lower than the first round of stimulus checks.
You must be 16 years or older
Must make less than $130,000 a year ($260,000 for married couples
Those who are unemployed or have no earnings would qualify
High school students, college students and adults with disabilities would qualify for the $2,000, even if their claimed as dependents
Parents would receive $500 per child, up to three children, even if the child was receiving a $2,000 stimulus payment.
If the program ran six months, estimates are that it could cost more than $4 trillion, adding about 25% to the current budget deficit of $17.6 trillion.