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2nd $1200 Stimulus Check Confirmed


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    New Stimulus Package Expected Monday—$1,200 Second Stimulus Checks Proposed

    Here's the important takeaway:

    Second stimulus checks

    The stimulus package, which was supposed to be released today but was later postponed, includes second stimulus checks. How much is the second stimulus check? Treasury Secretary Steven Mnuchin confirmed that the amount of the second stimulus check in the proposal will be a one-time $1,200 stimulus check. The good news is that Democrats want the second stimulus check also to be $1,200. The requirements to receive the second stimulus check will be the same as the first stimulus check under the Cares Act, which was the $2.2 trillion stimulus package in March.

    Who is eligible for a second stimulus check?

    If the second stimulus check is the same as the first stimulus check under the Cares Act, then the second stimulus check would be based on the following:

    • a one-time stimulus check up to $1,200 for each individual;
    • $2,400 for married/joint filers;
    • up to $500 for dependents under age 17.

    So the Republicans and Democrats seem to be in 100% agreement on the 2nd stimulus check, and it looks to be EXACTLY like it was the first time. This is good news from the standpoint of the IRS too, as they now have a system in place to do this, and can theoretically do it much better, faster and more efficiently the second time around.

    Of course this is just a proposal and now Congress has to agree on all the rest of the stimulus bill. And it could still take time to pass. But we know another round will pass, at some point. And now we have what I think is as rock solid a confirmation as any that another stimulus check will be coming to exactly the same people that got it the first time, for the exact same amount.

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    About time.... I can't imaging what took them so long to get it to this point. You'd think they'd put the squabbling aside for a few months to be able to get this passed. Shouldn't have taken this long just do the exact same thing for a second time.
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    TheBiggerBoat Wrote: About time.... I can't imaging what took them so long to get it to this point. You'd think they'd put the squabbling aside for a few months to be able to get this passed. Shouldn't have taken this long just do the exact same thing for a second time.
    Agreed. And the first time effort by congress helped, but not as much as it should have. I'm sure they'll be patting themselves on the back soon for a job well done, as if the crisis has been solved.
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    We're going to have to wait a little while longer for a 2nd stimulus check after the Senate left town without being able to even pass their own bill, which is only the first step in this process since whatever they pass is only going to be the starting point for negotiations with the House.

    Not to get too in the weeds, but the House is scheduled to go on recess after today (7/31) until the second week in September and the Senate is scheduled to do the same a week later. Obviously that can change, but if something doesn't come out of the Senate by the end of next week then I might seriously start to question whether a 2nd Stimulus Check will be heading out before the election.

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    Old Sport Wrote:

    Not to get too in the weeds, but the House is scheduled to go on recess after today (7/31) until the second week in September and the Senate is scheduled to do the same a week later. Obviously that can change, but if something doesn't come out of the Senate by the end of next week then I might seriously start to question whether a 2nd Stimulus Check will be heading out before the election.

    I was shocked to learn this yesterday. I could have sworn Congress was still in session until the 7th, and from that assumed we would be getting a bill signed last minute in about a week. Little did I know the 7th was just for the Senate.

    I don't understand congressional recesses. Can't they forego them in times like these? Is that not possible, or are they just that incompetent?