Next stimulus bill: HEALS Act contains much more than just another check

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Next stimulus bill: HEALS Act contains much more than just another check

The proposed HEALS Act that Senate Republicans rolled out on Monday includes a second stimulus check. But a payment of up to $1,200 for qualifying individuals is just one slice of the Senate stimulus proposal. If passed, it would also renew enhanced unemployment assistance, though offering significantly less financial support than March’s CARES Act, and pledge more than $100 billion to school reopening.

Some, however, think the next stimulus package could accomplish much more. On Monday, Senate Minority Leader Chuck Schumer tweeted, “The GOP plan does not meet this moment.”

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The final shape of the stimulus package will emerge through rounds of bipartisan negotiations that have already started. Here are the major pieces Democrats, Republicans and White House officials are pushing to include in the next stimulus package — and how likely we are to get them before Aug. 7, the last day before the Senate’s monthlong August recess.

This story updates constantly with new information.

Second stimulus check: Designed to spur spending

What it is: A payment sent to qualifying individuals and families, based on annual income, age, number of dependents and other factors. The first stimulus checks authorized under the CARES Act have gone out to over 160 million Americans — either as a check, prepaid credit card or direct deposit. But not without a hitch, and after three months some are still waiting for their payment.

How it could help you: The payment is not taxable, and you can use it however you want to pay for food, housing, clothing and so on. The idea is that spending the checks helps the economy recover faster.

Why we think a second check will pass: The CARES act authorized payments up to $1,200 per eligible adult and so does the HEALS Act. The House of Representatives’ HEROES Act, meanwhile, called for $1,200 stimulus checks, but for more people. The White House also supports another round of checks, which makes this a likely part of the final bill…Read more>>

Source:-cnet

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