Second Stimulus Payments Reportedly Same as CARES Act

So a brief update with respect to the next round of stimulus checks.

Just to catch you up, on July 6 during the Senate’s recess Senator Majority Leader Mitch McConnell was asked if there would be stimulus checks in the next relief bill.

He said there could well be, and then he said, “I think the people who have been hid the hardest are those who make about $40,000 a year or less.”

So this created a lot of buzz, he didn’t directly say there would be a $40,000 cap, but he put that association there very closely.

So since Mitch said that, which is consistent with the Republican buzzword “targeted”, we want the next relief bill to be “targeted”, there’s been speculation that the Republicans would come out with a bill that would lower the income limitation for single people for example, from $75,000 in the CARES Act to get the full stimulus check down to $40,000, maybe for married down from $150,000 to $80,000 or something like this.

Now, two days ago, the #2 Senate Republican John Thune said, “If the parameters stayed the same (referring to the parameters for the second round of stimulus checks), we could do it really quickly.”

That implies openness to not lowering that income cap and just doing a second round pretty much identical to the CARES Act.

Well, this morning, The Hill reported that Secretary of the Treasury Steven Mnuchin said about stimulus checks, “We’re talking about the same provision as last time, so our proposal is the exact same proposal as last time.”

That’s great news, that Republicans are starting there if true. They’re starting with the CARES Act stimulus as they go into negotiation with the Democrats, meaning that if you were eligible for a stimulus check last time, you would be eligible this time as well.

If you weren’t eligible last time, you wouldn’t be eligible this time and it looks like they’re gonna be the same $1200 stimulus checks, according to this report of what Mnuchin said.

Democrats may negotiate them upwards, we know that in the HEROES Act Democrats wanted to expand the number of people eligible for the second stimulus checks, I made a video going through the HEROES Act back in May detailing exactly who the HEROES Act would make eligible for stimulus checks, adult dependents, etc.

The HEROES Act didn’t go anywhere, but who knows, maybe Democrats will negotiate Republicans upward in this next package, I don’t know.

But it is very good news that at least it’s reported that Republicans will not be pushing to only make the next round of stimulus for those who make less than $40,000 a year or something like that, at least that’s what we’re hearing reported by The Hill who is usually pretty good, not clickbaity like some other publications.

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