Will you get a second stimulus check during the coronavirus outbreak in the US?
After the Easter weekend the Internal Revenue Service started sending the stimulus checks to millions of Americans that need help during the pandemic.
The United States government started sending the stimulus checks to millions of Americans who have been affected by the quarantine period during the coronavirus pandemic. The Internal Revenue Service (IRS) are sending $1,200 via direct deposit so the people have access to the money immediately.
The $1,200-per-adult 'economic impact payment' approved by the CARES Act doesn’t go quite as far as one might think. Americans spend an average of $660 a month on food alone, according to Bureau of Labor Statistics data from 2018, and nearly $1,700 on housing. With 22 million unemployment applications since early March, people are in desperate need of emergency funds.
The IRS is using the 2018 and 2019 tax return to send the money to the people that need it the most first so others will get it in the next few weeks. The IRS sent out more than 80 million relief payments this week according to the Treasury Department.
But that’s just the first wave. Previous estimates said more than 100 million people would have to wait for their paper checks to come in the mail. The IRS plans to start issuing those next week because they can only process 5 million paper checks at the time so it could take another 20 weeks for all Americans to get their relief checks.
If you have not received the money yet you can access the IRS website to track the money. While this is happening some politicians believe that there is a need for more relief money because this initial payment wasn’t enough.
“The appetite is there, I think everyone I’ve talked to recognized we’re going to have to go back and do more, and probably more than once,” said Senator Marco Rubio from Florida.
Congressman Ro Khanna represents California’s 17th Congressional District and introduced the Emergency Money for the People Act in the House on Tuesday which calls for people earning under $130,000 to get $2,000 payments every month for at least six months, with special rules for married couples and children.
The monthly payment idea is gaining traction with other politicians, as well. More than 60 members of Congress signed an open letter earlier this month demanding recurring monthly payments to help taxpayers. So far it is unclear if this Act will be approved.