Second stimulus check for $600 could disperse soon, though Congress could still boost amount
Many Americans will receive their second stimulus check after President Donald Trump signed a $900 billion COVID relief bill Sunday.
Checks have been approved for $600, though Congress could still vote to bolster the amount.
House lawmakers voted Monday night to increase the amount to $2,000. The measure will now go to the Senate for approval. There, Republicans have the majority, but have largely rejected more spending and are likely to defeat the effort.
For now, the administration can begin sending out the $600 payments.
Will I get a stimulus check?
U.S. citizens will get a stimulus check as long as they’re not a dependent of another taxpayer. Eligible citizens must have a social security number that is valid for employment.
How much will I see on my stimulus check?
American adults who earn less than $75,000 will receive the full $600 check, while couples who earn less than $150,000 will receive $1,200.
The payments will be tapered for higher-earners (5% of the amount by which their adjusted gross incomes exceeded the initial threshold) and phased out completely for individuals who earn more than $99,000 and couples who earn more than $198,000.
Dependents under the age of 17 are also eligible for $600 payments.
When will I get my payment?
Treasury Secretary Steven Mnuchin previously said checks could go out within weeks of Trump signing the bill into law.
According to the bill, the deadline for the Treasury Department to send out the checks is Jan. 15, meaning Americans can expect their checks to be direct deposited by then or received in the mail after that date.
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Will it arrive via direct deposit?
Yes, as long as the government has the information it needs. The government issued both electronic and paper checks during the first round of stimulus checks earlier this year and will do so again.
According to the IRS, if you received direct deposit of your refund from your 2019 tax return, the IRS will electronically send your payment based on the banking information provided the form.
If you filed your 2019 tax return but didn’t receive your refund via direct deposit, the IRS will mail a paper check to the address on your most recent tax return.
Do lawmakers think the amount is enough?
Trump initially refused to sign the bill, saying the $600 wasn’t a large enough amount. He, and many Democratic leaders, pushed to increase the amount to $2,000. However, many Congressional Republicans have refused to budge.
Senate Minority Leader Chuck Schumer said he hopes to pass the checks through the Senate after it passed in the House Monday night.
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How does the new COVID-19 relief bill affect unemployment benefits?
The bill extended the time Americans can collect unemployment by an additional 11 weeks, lasting through Mar. 14, assuming Trump would sign the bill right away.
However, Trump’s delay in signing the bill could cause Americans to lose a week as the March ending date remains unchanged.
"The President’s pointless delay in approving this relief legislation cost millions of Americans a week’s worth of pandemic-related unemployment assistance that they desperately need," Rep. Richard Neal, D-Mass., chairman of the House Ways and Means Committee, said Sunday night.
Trump’s delay also caused unemployment benefits to expire over the weekend. Economists said it could take weeks for states to restart the program and issue the next round of unemployment checks.
How much more will I receive in unemployment benefits?
Americans receiving unemployment will now get an additional $300 per week. That’s down from $600 from when Congress passed the first COVID-19 relief bill.
This Associated Press, FOX Business and FOX News contributed to this report. This story was reported from Los Angeles.