$1,000 stimulus check: how much money for children and adults?
A group of Republican senators have proposed sending out $1,000 payments per individual amid the coronavirus pandemic, as negotiations continue to find a solution.
On Thursday 30 July, a group of Republican senators called for $1,000 direct payments to be sent to individuals as part of a bill called the Coronavirus Assistance for American Families (CAAF) Act.
Family of four would get $4,000 under CAAF Act
Under this new proposal, both adults and dependents would get $1,000 each, enabling families to claim a higher amount than they received in the round of stimulus checks included in the CARES Act, a $2.2tn relief bill passed in March.
- Second stimulus check: is a deal possible if not settled by Friday?
- Dog? Duck? Rabbit? The beach cliff that has tourists debating
- $100 million coronavirus fraud losses after multiple scams
- What is Russia’s ‘ghost ship’ tactic?
- Morgan Wallen’s arrest explained
For example, an eligible family of four would get $4,000 as part of the CAAF Act - $600 more than under the CARES Act, which gave out $1,200 to claimants earning under $75,000 a year, but only sent out $500 for dependents.
Under this new bill proposed by Senators Bill Cassidy, Steve Daines, Mitt Romney and Marco Rubio, the $1,000 checks would be sent to all Americans regardless of their age or dependent status.
Requirements to qualify
The second stimulus check could be on the way as soon as next week if the bill is approved. In order to qualify, both adults and dependents would need valid Social Security numbers.
The Coronavirus Assistance for American Families Act (proposed by Sens. Rubio, Cassidy, Daines, and Romney) would increase rebates for dependents up to $1,000 while also providing a $1,000 rebate for each taxpayer up to the CARES Act income limits: https://t.co/Czhsrqqu5Y pic.twitter.com/YF6YujtkVe
— Tax Foundation (@TaxFoundation) July 31, 2020
Single and married taxpayers with no children would receive less compared to the first stimulus checks. Single individuals would get up to $200 less, while married couples would see up to a $400 reduction. Democrats have been fighting to send a second round of stimulus checks and under their bill, the HEROES Act, families would receive as much as $6,000 total.