The recession caused by the coronavirus pandemic has burdened millions of Americans financially. While government officials discuss offering another stimulus package, the question remains: who would receive money?
Congress proposed a $3 trillion Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act. The act would include another round of stimulus payments for most households, according to CBS News. Currently, the bill awaits debate in the Senate after passing the House vote in May. However, it’s unclear whether Congress will approve the stimulus check.
In the first round of stimulus checks, many criticized the Coronavirus Aid, Relief and Economic Security (CARES) Act for excluding some Americans. Under the HEROES Act, most Americans would receive more money in the second stimulus check.
When asked about more stimulus checks, President Trump explained that lawmakers are working to provide substantial financial assistance. “I think we’re working on something that’s going to be very dramatic, very good,” the President said, according to CNET. “I think we are looking at a Phase 4. Phase 1, 2 and 3 have been fantastic for people generally.”
Who Will Receive Money in the HEROES Act?
The HEROES Act sets the same income limits as the CARES Act. Most high-income households wouldn’t be receiving a check unless they have dependents or children who qualify. Taxpayers with a maximum adjusted gross income of $75,000 or less would be eligible to receive a stimulus check. Furthermore, married couples with a total household income of no more than $150,000 would also be eligible.
For those above the limit, the payments will be reduced. Neither individuals making $98,000 nor married couples making more than $199,000 will receive stimulus checks.
One change proposed in the HEROES Act is that parents of 17- and 18-year-old children would receive additional payments of $1,200 for each child in the family. However, families will only receive money on up to three children. In the CARES Act, families received $500 per child, and only kids who hadn’t turned 17 qualified for the Child Tax Credit.
The HEROES Act also includes families with college students. For parents who claimed their college student children on their taxes, they will receive a $1,200 payment.
Lastly, the HEROES act will provide a stimulus check for Americans married to immigrants without a Social Security Number. Under the CARES Act, these couples did not receive any money.