Stimulus check: how much money will there be if Republicans and Democrats reach an agreement?
Senate Republicans may introduce a smaller, new stimulus plan with unemployment benefits and school funding, but without a second stimulus check.
Republicans and Democrats failed to reach an agreement earlier this month on the fifth stimulus relief package amid the coronavirus pandemic. Since then there has been talks about this bill that among other measures it would include a second round of stimulus payments similar to the ones included in the CARES Act.
Congress will resume negotiations after Labor Day weekend and Republicans might propose a $500 billion stimulus bill which will not be accepted by Democrats because it is half the size of the HEALS Act. According to CNBC this new bill would include:
- Enhanced unemployment benefits
- School funding
- Small business loans
- Coronavirus testing and vaccines
Which means this new bill proposed by Republicans will not include a second round of stimulus payments amid the outbreak. Prior to going on break both parties had agreed they wanted to send a second round of stimulus checks worth up to $1,200 per individual and $2,400 for married/joint filers.
Democrats point of view
They want to continue the $600 weekly unemployment benefits and Republicans want to reduce that to $300. Congress will meet again after Labor Day weekend (mid-September) and they will resume talks about the stimulus relief package and if they can reach an agreement, according to The Motley Fool, if they approve a second round of payments IRS will start sending the money until October.