The second stimulus check will come soon, Trump says; will be ‘very generous’

When does a second stimulus check come? Soon President Donald Trump promised on Monday.

Forbes reports that Trump confirmed that another round of direct payments to Americans will be included in Congress’ upcoming coronavirus aid package during an interview with Joe St. George, national political editor and Washington correspondent for Scripps.

“Yes, we are … We will do another stimulus package. It will be very good, it will be very generous,” Trump said. “I think in the next one, I think it will be bipartisan, I think it will be in a couple of weeks, probably.”

Trump did not specify how long Americans could expect, but the $ 3 trillion Omnibus Health Solutions and Economic Recovery Act (“HEROES Act”), already passed by the House of Representatives, would again distribute $ 1,200 per person, through of paper checks, direct deposit, or debit cards, to help Americans who have lost income due to the Covid-19 pandemic. People with taxable income less than $ 75,000 (or $ 150,000 for couples filing a joint return) would be eligible, similar to the first round, and dependents would also qualify for $ 1,200 this time, regardless of age.

The first round of stimulus checks, which gave qualifying American adults a one-time direct payment of $ 1,200 plus $ 500 for each child under the age of 17, was part of the $ 2.2 billion Congressional CARES Act passed in March. A family of four could receive $ 3,400, while the second package would potentially send them $ 4,800.

Senate Majority Leader and Republican Mitch McConnell said earlier this month that the HEROES legislation will likely be amended from its current form. If direct payments are included, it will be the last round, he said.

Another proposal, from Republican Ways and Media Leader Kevin Brady of Texas, is the “Reopening the United States by Supporting Workers and Businesses under the 2020 Act,” which turns unemployment benefits into a return bonus. job. Brady’s proposal also includes a direct payment of $ 1,200: one week of unemployment benefits and $ 600 of federal aid, as the additional federal payment will expire on July 31.

Former presidential candidates, Senator Kamala Harris (D-Calif.) And Andrew Yang, have also introduced the Monthly Economic Crisis Support Act, which would award $ 2,000 to anyone earning less than $ 120,000 per year. Married couples filing a joint return would receive up to $ 4,000 and a maximum of three dependents would receive $ 2,000 each.

When will I receive my second stimulus check?

The Senate talks are not expected to get serious until early July, so a second payment may not come until early fall. McConnell said in late May that Congress would need about a month to negotiate a deal that includes the new payments; The debates have not yet started, but if approved in late July, Americans could begin to see payments in late August.

“We don’t want to rush into that because we want to be careful at this point in looking at how the money is in the economy,” US Treasury Secretary Steven Mnuchin told the United States Senate Committee on Small Business and Entrepreneurship. earlier this month.

“Much of the money is not in it yet,” he said, referring to $ 130 billion in unclaimed funds from the Paycheck Protection Program and up to 35 million checks that have yet to reach people.

The good news is that checks are likely to be delivered faster this time after millions verified their information on the IRS “Get My Payment” site. The IRS recently said it has paid all eligible Americans that it had enough information on first-round checks, totaling $ 267 billion.

The first round of payments took about a month to begin reaching people’s bank accounts after Trump signed the CARES financial aid package in March.

How much will i get

Under current HEROES, each American would receive $ 1,200; married couples would receive $ 2,400; and parents would receive $ 1,200 per child, regardless of the dependent’s age.

You can find out how much you would be eligible for using the free Omni Calculator tool below. It is also on your site here.


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