The proposed HEALS Act of Republican senators includes more benefits and incentives that Americans and those who qualify for it can enjoy aside from $1,200 direct payment.

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Once the Republican-led HEALS Act is passed into law before August 7, there will be more benefits for Americans and other individuals who qualify for it. There are other incentives included in the HEALS Act, aside from the $1,200 direct payment.

The Senate and Democratic lawmakers have one thing in common, and that is to have the second round of the financial relief package. Even though the two parties are still debating on the weekly unemployment payment, there are still other incentives they can enjoy.

Here are the major benefits that Republicans, Democrats, and the White House are pushing in the next stimulus which are likely to be approved before Aug.7:

1. More Unemployment Benefits For Americans

The additional weekly payment for qualified unemployed individuals was $600, but the proposed HEALS Act reduced it to $200 a week. The additional $600 expired on Saturday, but lawmakers are looking into another financial support.

Senator Chuck Grassley said on Monday, "When you pay people more not to work than they would get working, what do you expect? People will not work. And what this country needs is more workers."

As soon as the HEALS Act is approved, a person's average benefit, including the state financial assistance, will be $500 a week.

2. Paycheck Protection Program for Small Businesses

The Paycheck Protection Program is a forgivable loan intended for small business owners. This is to ensure that small business owners can retain jobs and continue to include their employees in their payroll. The PPP is a program designed to fund workers.

However, the PPP loan started with controversy because big companies were able to apply for the program according to a published report in The Washington Post.

Sen. Susan Collins of Maine said on Monday that the PPP will be extended and will target the hardest-hit small businesses, including those who lose revenues of 50 percent or more.

3. Employee Retention Tax Credit Will Help Pay Workers

This is a direct payment that encourages business owners to retain their workers on the payroll. The scheme is the employer can receive refundable tax credits for wages paid to an employee during the pandemic, then the employer can use the credits to subtract from the taxes they owe.

The Republican-led HEALS Act proposed on Monday also includes further ta relief for businesses who hire and rehire workers.

4. Return-to-Work Payment

Republican Sen. Rob Portman from Ohio proposed that a weekly bonus of $450 a week will be given to those who were laid-off or furloughed but decided to go back to work or have a new job. The White House express their support in Portman's idea in May, but this was not included when the HEALS Act was presented on Monday.

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