All American citizens have received one stimulus check during the COVID-19 pandemic. It now turns out that a second round of checks may be issued soon. How much money will be sent out, and when this will happen exactly, remains to be determined.
Voting on a Second Stimulus Check
The coming days will be very interesting to keep an eye on. US Congress officials will vote on whether or not the country’s citizens will receive a second stimulus check. It will not be sent out in July, as Congress is on recess until July 20th.
Once the recess is over, a vote will be organized to discuss this new stimulus check. Making a quick decision will be crucial. Congress will only be in session in Washington until August 7.
Approving this new COVID-19 relief package before that date is crucial. So far, it seems likely that this won’t be a problem. If no agreement is found before August 7, the discussion will be tabled until September 10.
How Much is Everyone Getting?
Assuming the stimulus check will be approved, there are still a lot of details to be worked out. The previous one was worth $1,200. In hindsight, it was an insufficient amount that hasn’t really helped anyone in the long run. Increasing this amount is not necessarily happening either, however.
Before the checks can be issued, several factors need to be taken into consideration. Current economic growth, unemployment rate, and the total costs need to be calculated first and foremost. Based on that information, the amount to be printed on the stimulus check can be determined.
For the time being, any amount is possible. It can be another $1,200 check, but the amount can be either higher or lower as well. President Trump has indicated how he is in favor of a larger second stimulus check. Size isn’t everything, however, as a second check will put even more strain on the US economy.