Stimulus Payments Could Be $50,000 for Eligible Families If Bill Backed by Harris, Sanders Passes

By Madelaine D. Aug 17 2020, 00:37 AM EDT

Stimulus payments received by families of three could reach $50,000 if the proposal backed by senators Kamala Harris and Bernie Sanders passes.

In May, Harris, Sanders, Kirsten Gillibrand (D-NY), and Ed Markey (D-MA) proposed the Monthly Economic Crisis Support Act, which would provide $2,000 to each married couple with more than three children.

According to The Sun, the proposal is highly unlikely to pass but is technically still on the table. It includes a lump sum retroactive to March. Thus, families would receive five months' worth of payments.

Stimulus Payment Could be $50,000 for Eligible Families “IF” Bill Passes — money Viacheslav Bublyk

For those who have adjusted gross incomes below $100,000 for individuals or $200,000 for couples, the amount paid would increase to $2,000 per person. The media outlet PopCulture also emphasized the fact that the proposal is still on the table.

The negotiations about the second stimulus package have been stalled after Congress went into recess. Americans should have to wait patiently for the promised $1,200 stimulus check for at least another month after Congress ends up with no deal.

Despite Treasury Secretary Steven Mnuchin saying Republicans have the backing from President Donald Trump to ensure payments would be made in August, stalled negotiations would resume in September.

A deal may not be reached until October as both the Senate and the Congress have adjourned.The Senate will get back to work on September 8 and the Congress on September 14.

Members of Congress are needed to vote on the next stimulus package, as per The Sun.

Trump previously said via Twitter, "I have directed @stevenmnuchin1 to get ready to send direct payments ($3,400 for a family of four) to all Americans. Democrats are holding this up!"

Republicans allegedly slammed Democrats for not hitting the president's $1 trillion target for the package's cost stalled in the Senate.

Democrats initially proposed a $3.4 trillion package that was supposed to provide the checks. House Speaker Nancy Pelosi claimed it would be adjusted if the GOP would compromise at $2 trillion.

Republicans and Democrats have yet to end a deal on the next stimulus package. Both parties had difficulty seeing eye to eye on state and local funding and unemployment benefits, liability protection, and school funding.

The earliest the IRS could deliver the second check, according to CNET's calculations, would be the week of September 21. That hinges the reported Senate's passing the final negotiated bill on September 8; the Congress passing it on September 9, and the president signing the bill one day later or on the 10th.

On Thursday, CNN questions Republican Senator Pat Roberts about the possibility of a bill passing before next month, Roberts answered: "An actual law? I don't know. Maybe that's too much to ask."

On the other hand, Senator Roy Blunt said the pandemic relief legislation would not happen until September 30, as per CNBC.

Senate Majority Leader Mitch McConnell allegedly accused Pelosi last Wednesday of taking the health system a "hostage" amid the COVID-19 crises due to additional funding for non-coronavirus related issues package.

"Taking our health system hostage over longtime, non-COVID-related, liberal demands," McConnell said.