Coronavirus

Stimulus check: who is eligible for the second payment?

How much you could get, payment timeline and everything you need to know about the possible second round of stimulus relief package amid Covid-19 outbreak.

Stimulus check: who is eligible for the second payment?

Back in mid-March President Donald Trump approved the $2.2 trillion CARES Act that sent $1,200 per individual to millions of Americans struggling amid the coronavirus pandemic. By now most Americans have already received the federal stimulus checks and as the economy reopens they are expecting a second round of payment.

The House approved and proposed the HEROES Act, a $3 trillion bill that among other measures it would send a second round of stimulus payment. This bill is way over budget according to the Senate leader who doesn’t want to go over $1 trillion and the HEROES Act has been called "DOA, Dead on Arrival."

HEROES Act more generous than CARES  Act

If the HEROES Act were to be approved not only American citizens will be eligible for a second round of stimulus payment, but also immigrants who pay their taxes each year. Under the CARES Act only immigrants with Social Security Numbers and who fulfilled certain residency requirements were able to receive the payments.

President Trump and the Republican-controlled Senate are not convinced that another aid package is warranted after the CARES Act and argue that only American citizens should get help as the economy reopens amid the outbreak.

Over the next weeks, White House and congressional leaders will decide the pros and cons of a second stimulus check from the IRS. People will have to wait until late July for news on a second round of payments because that is when Congress plans to start work on a proposed second round financial package.