Stimulus check 2 bill unveiled: Here's what's in the HEALS act

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Stimulus check two bill unveiled: Here's what's in the HEALS deed

(Image credit: Saul Loeb/AFP via Getty Images)

On Monday, Senate Republicans released their proposal for the next stimulus package. The $1 trillion bill known as the HEALS Deed includes money for stimulus bank check 2 and an extension of federal unemployment benefits (but at a reduced rate).

Let'due south take a wait at what Americans can look if the HEALS Human action moves forward.

• Stimulus bank check 2 HEALS Act estimator launched — see how much you'll go
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• Just in: Stimulus bank check 2 vs stimulus check i — what's different

HEALS Act: Stimulus check 2

The direct payments included in the HEALS Act are essentially the aforementioned every bit those provided under the CARES Deed, meaning workers who earn less than $75,000 per twelvemonth (if single) or $150,000 per year (if married) can expect a stimulus check 2 amount of $i,200.

Those earning more (upwards to $99,000 for unmarried workers and $198,000 for those who are married) volition receive pro-rated benefits.

Even so, those with dependents would get slightly more money with stimulus check 2. The Heals Human activity expands the $500 benefit to include whatsoever dependent, including adult dependents with no income. The CARES Act offered this benefit only to children ages 16 and under.

This expansion is similar to what has been proposed by House Democrats under the HEROES Deed passed in May, although that bill would provide the total $one,200 for each dependent, up to $six,000 per family.

To notice out how much y'all would receive with stimulus check 2 with the HEALS Act, enter your tax information into the stimulus check ii reckoner. And if you even so haven't received your showtime relief payment, check your status using the IRS's Go My Payment app or call a representative at the IRS stimulus cheque phone number.

HEALS Act: Reduced unemployment benefits

The CARES Act provided an additional $600 per calendar week in federal unemployment benefits to workers enrolled in land unemployment programs. That provision expires on July 31.

The HEALS Act would continue federal unemployment payments, but at a reduced rate and for a limited time.

Senate Republicans are proposing a $200-per-week federal supplement for two months, during which states volition be expected to transition to a system that pays out benefits up to 70% of laid-off workers' wages.

Some lawmakers have expressed hesitation about the states' abilities to implement a new do good system in that curt timeframe.

HEALS Human action: Funding for schools and modest businesses

The HEALS Act would also provide money to support schools reopening amid COVID-19, likewise as a second round of funding for the Paycheck Protection Programme (PPP) aimed at supporting small businesses.

Not included is a controversial payroll tax cutting, a proposal pushed by the White Firm but rejected by House Democrats and many Senate Republicans.

HEALS Act: What's next?

Senate Republicans and House Democrats must reach a consensus, and President Trump must sign the final neb. There is a sense of urgency, as the current federal unemployment benefits expire and the Senate is scheduled to beginning its next recess on Aug. 10.

Emily Long is a Utah-based freelance author who covers consumer technology, privacy and personal finance for Tom's Guide. She has been reporting and writing for nearly 10 years, and her piece of work has appeared in Wirecutter, Lifehacker, NBC Meliorate and CN Traveler, among others. When she's non working, you tin can find her trail running, teaching and practicing yoga, or studying for grad school — all fueled past coffee, obviously.

Source: https://www.tomsguide.com/news/stimulus-check-2-bill-unveiled-heres-whats-in-the-heals-act

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