Coronavirus: will the IRS send a second stimulus check to eligible Americans?
An estimated 80 million people are eligible for stimulus checks. Those yet to receive their money can check the status of their payment on an IRS website.
Due to the coronavirus pandemic in the United States millions of businesses have been forced to close and this in turn has caused millions of people to lose their jobs during the quarantine period.
Last month President Donald Trump approved a $2 trillion economic stimulus package that entitles eligible Americans to a one-off $1,200 payment. An estimated 80 million people are eligible for the checks. Those yet to receive their money can check the status of their payment on an Internal Revenue Service website.
US workforce 17% down during coronavirus pandemic
More than 26 million Americans have filed initial claims for unemployment benefits over the past five weeks. There were, roughly, 160 million jobs in the US before the Covid-19 pandemic upended the American economy. Almost 17% of the workforce has been abruptly thrown out of work by the virus since the pandemic struck.
While some people are still waiting for the first payment to be sent by the IRS, there are already discussions over a second stimulus payment. But whether that money actually comes through is yet to be determined.
Though a follow-up stimulus payment would be a lifeline for millions of Americans right now, lawmakers are still debating the merits and specifics of approving one. But the longer the Covid-19 crisis drags on, the greater the need will be for an additional stimulus check.