Second Stimulus Checks: Will It Be Included in the New Proposal?

The House of Representative is working on a new and refined proposal for another stimulus package, according to reports on Thursday.

The proposal drops over $1 trillion from their previous formal bill.

Many Americans are expecting to what will be included and what will be dropped.

House Democrats are prioritizing enhanced unemployment insurance and second stimulus checks in their new coronavirus relief bill.

House Speaker Nancy Pelosi reportedly ordered high-ranking lawmakers to create a new legislation for a stimulus package.

The said relief package is being aimed to have a price cap of $2.4 trillion.

Reports said that the said bill will contain programs that most American individuals are most concerned with.

These programs are unemployment aid, Paycheck Protection Program, and second stimulus checks.

Second stimulus checks were one of the few areas that Republicans and Democrats previously agreed on their negotiations.

However, unemployment aid remains a sticking point.

In addition, some critics believe that there can still be some deductions to be done from the bill.

Second stimulus checks are likely to be worth up to $1, 200 based on income, as what was seen from the previous proposals in both the House and the Senate.

Any taxpayer with an annual gross income of $75,000 or less on their most recent tax return would get the full amount.

It would also decrease incrementally from there.

The huge difference from the two sides in the most recent negotiations was the process of paying dependents.

Democrats proposed $1,200 per dependent with a limit of three.

Republicans wanted $500 per dependent with no limit.

Both cases included adult dependents, unlike the first round of stimulus checks.

While second stimulus checks are in the talks, unemployment insurance remains one of the most divisive issues of negotiations.

Democrats wanted a new unemployment program from the CARES Act as is.

This is providing $600 per week to unemployed Americans on top of their state's unemployment programs.

Republicans wanted to decrease that to $200 per week with a long-term plan to calculate unemployment based on income.

This with a firm cap of $500 per week.

Meanwhile, GOP proposed a coronavirus aid earlier, which was blocked by Senate Democrats.

The GOP's so-called "skinny bill" was one of Congress's first actions after its nearly month-long recess.

The said bill includes liability protection for businesses and healthcare facilities.

In addition, it includes more money for healthcare funding and schools, as well as a second round of funding for the Paycheck Protection Program for small businesses.

Senate Majority Leader Mitch McConnell called it a targeted proposal that could be voted on as early as possible, according to a report.

However, the GOP-backed bill failed to advance as Congressional Democrats said the bill did not provide enough relief for financially struggling Americans.

Democrats said that they want to continue the extra $600 per week in unemployment insurance that the CARES Act provided.

However, with the coming on Supreme Court confirmation in hopes to fill the vacant seat, many are doubtful that a stimulus deal would be reached before election.

Check these out:

Distribution of Additional $300 Unemployment Checks Ends in 10 States

Second Stimulus Check: How Quickly You May Receive It Once Approved?

Additional $300 Weekly Unemployment Checks to End as Soon as Next Week