Covid-19 Relief Package: Families Could Get as Much as $6,000 If Deal Can Finally Be Struck
COVID-19 relief package remains uncertain. However, families could get as much as $6,000 if lawmakers finally made a deal.
On Friday, House Speaker Nancy Pelosi said that she is feeling optimistic when asked about Congress' ability to pass a more massive stimulus bill or carry out an executive order to release COVID-19 relief funds for eligible Americans. Meaning, Americans could still have a second round of stimulus check soon, but Congress can start discussing it left on the table in August.
Pelosi also said, "I do think that we should have an agreement. That's what we all want." The House Speaker again slams Republican's $500 billion proposals on Thursday, which was rejected in the Senate.
Pelosi's remarks came on the contrary to Republican Senate Majority Leader Mitch McConnell. Senator McConnell said that he doesn't see any agreement to both parties before the November election.
On the other hand, President Donald Trump said that the rejected bill was Democrat's way to hurt him at the polls in November.
According to The Sun, the CARES act does not limit the number of children that could be included as dependents, so for as long as they were under 17-years-old, families could receive $500 per dependent. The full amount possible to receive for a family of six kids under 17 and two adults would be $5,400.
Meanwhile, the two proposed acts in Congress change the eligible amount for families. Families of five or more could have $6,000 depending on which legislation is passed, which is a considerable increase from the CARES Act passed in March.
Discussions were left by Congress in August when deciding between the Democrat-led Heroes Act and Republican-led HEALS Act.
The Heroes Act placed a $6,000 stimulus check on households of five or more and proposed providing a $1,200 check for every individual in the family with up to three dependents per family. On the other hand, the HEALS Act does not offer a cap on the amount that families can receive, and it also doesn't limit dependents.
Both parties agreed the second round of stimulus checks is warranted despite their differences, as coronavirus pandemic continues that impacts the economy and the unemployment rate in the U.S.hovers at around 8.5%.
Republicans and Democratic lawmakers also agree that the next round of stimulus checks should overreach Americans than the first round. The more significant proposed amount will enable even larger percent of the U.S.population to receive checks.
The stats presented by CNET showed more than half (52%) of Americans paid down debt through their first stimulus checks. Besides, 15% of Americans said they spent the $1,200 stimulus check they received, while a third said they would save mostly their checks.
Check these out:
Republicans' "Skinny" Relief Bill Failed: What are the Alternative Possibilities to Happen Next?
Stimulus Check 2: Is It Possible to Receive a $4,000 Check?
New Stimulus Bill Could Fix These Problems If Lawmakers Agree