The House recently passed The Heroes Act providing a second round of stimulus checks. Here’s what you need to know.
- Did Congress just pass a bill for another stimulus check?
Yes, the House passed a bill, but the Senate has yet to agree to pass another round of stimulus checks. - The Senate says it’s dead on arrival so does the House bill really matter?
Yes, it matters because the House and Senate can negotiate about what they think should be included in the new stimulus package. The economy is a mess and the White House has indicated that they would be on board with a second round of stimulus checks.
- How much is the second stimulus check, and when will I get it?
Similar to the last stimulus check, individuals would get $1,200, while married couples who file jointly would get $2,400. However, households would get $1,200 per child (up to 3), as opposed to the $500 per child that was included in the first round. - What are the income requirements for the second stimulus check?
Currently, income requirements would be the same as the first round. Individuals earning $75,000 or less and married couples (joint filers) earning $150,000 or less per year would be eligible for the full $1,200/$2,400 stimulus check. Those who earn more would receive reduced amounts until it all phases out completely for individuals above $99,000 and married earners above $198,000. - What about the $2,000 monthly stimulus check? Is that happening?
It is highly unlikely that this will happen.