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New economic stimulus package at a crossroads: How the bill could change, who it could help



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Talks about a second stimulus check have finally resumed – here is the latest status update.

Sarah Tew / CNET

The House of Representatives took place after nearly a week of daily meetings between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi, who sought common ground on Thursday evening for an elusive package of economic aid Voted to approve a reduced version of $ 2.2 trillion of Heroes Actwhich some call Heroes Act 2.0. Most of the partisan law was passed by party politics, but it has little chance of gaining approval from the Senate.

In parallel with the Thursday House vote, Mnuchin and Pelosi spoke three times a day to reach a last-minute agreement on a range of relief measures, from increased unemployment benefits to another round second stimulus test from up to $ 1,200 to the skilled Americans. On Thursday evening, Pelosi told reporters at the Capitol that she was reviewing Mnuchin documents in preparation for further discussion.

Read on to learn what benefits a new stimulus package could offer if it goes into effect before or after the law Election on November 3rd. Further information can be found on the Top Things You Should Know About Stimulus Checks and how Stimulus checks and taxes are intertwined. This story is updated often.

Second stimulus check for a maximum of USD 1,200 still on the table

Democratic and Republican lawmakers have agreed on the need for a second direct payment of up to $ 1,200 per eligible American adult and additional money for dependents (find out who counts as dependent and How old do you have to be to qualify for your own check?).

The recently passed House Bill, which the Democrats refer to as the “updated version of the Heroes Act” (PDF), contains similar provisions for stimulus checks to March CARES Act and expands who is deemed dependent in accordance with the requirements of the Heroes Act.

The new bill – which Pelosi uses as a starting point for their negotiators – would send $ 500 to all dependents that the taxpayer can claim as dependent under the new bill, regardless of age (“the number of dependents taxpayers for such a tax year. “) Mnuchin uses the $ 1.5 trillion problem-solver proposal as a starting point for his business. As the two sides continue to talk, they are running out of time to come to an agreement and pre-screen the Americans Election on November 3rd.

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Next stimulus checks: what to expect


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Money for the aviation industry to prevent layoffs

The payroll protection included in the CARES Act expires October 1, and airlines threaten to lay off thousands of workers after that date. The new bill (which in turn is not law) extends the wage support program to the aviation industry to prevent mass layoffs. American Airlines and United Airlines moved on October 1 to employ 32,000 people after aid ran out.

Improved unemployment to support millions of job seekers

A stop-gap measure for the federal government to fund $ 300 per week increased unemployment benefits was planned for six weeks and has already ended in some states.

As the main point of contention in the debate, Democrats want a new bill to add $ 600 a week to states’ benefits, as the CARES bill did in March. Republicans want to cut the number to $ 300. The suggestion for problem solvers puts the figure at 450 US dollars for eight weeks, then increasing. The new house bill includes $ 600 in unemployment benefits through January 2021.

Wage and salary protection program to support small businesses

The paycheck protection program in the CARES Act is designed to help employers keep workers on payroll, and offers small businesses forgeable credit as an incentive to keep employees on payroll – people who may otherwise have lost their jobs during the pandemic . Under the revised Heroes Act, the plan would include the restaurant industry, independent live venue operators, and the aviation industry.

Employee tax credits to help companies retain employees

There is already an IRS-administered program in place to give employers a tax break through 2020 to help keep workers on payroll. With the new bill, the tax credits are renewed to encourage employers to keep workers on the payroll.

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In many countries, the increased unemployment benefits are already ending and people are eagerly awaiting a new aid package that includes more funds for the program.

James Martin / CNET

Extended eviction ban and possible rental support

The Centers for Disease Control and Prevention used an obscure health law to Suspend evictions until December 13thas long as the tenants fill out the necessary documents.

It is estimated that up to 40 million people in 17 million households without evictions could lose their homes if the economy does not recover before the last protective measures expire. The new house proposal includes evacuation protection as well as financial support for residential property owners to offset the cuts in rent payments.

Protecting businesses from certain coronavirus lawsuits

Liability protection is high on the agenda for Republican lawmakers. Introduced in the Republican HEALS Act proposalThis measure would limit lawsuits against employers, schools and health care providers related to exposure to coronavirus, with the exception of gross negligence.

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Given the expected increase in mail-in ballots this election year, the USPS will be burdened with fewer resources.

Sarah Tew / CNET

Money to help the USPS get through the election season

Both Democrats and Republicans have submitted bills to fund a US Postal Service in crisis before an election in which up to 80 million people are expected Vote by email. The new house bill includes additional funding for the USPS. The House of Representatives before Passed a USPS bill that was not taken up by the Senate. The Senate’s “thin” bill has not vacated his chamber.

Support for election security

The pandemic is expected to increase by Postal ballot During the US presidential election on November 3rd, many raised concerns about how the USPS will deal with it. The government saw no evidence a coordinated effort to commit mail-in voting fraud. However, the House’s new bill is financed to ensure election security.

Funding schools to fight the coronavirus on campus

Funding hygiene protocols, tests, and other shelter during the coronavirus pandemic is a top priority on both sides of the aisle to help reduce the spread of the virus among students and faculty. The new house bill contains money specifically for schools.

With some schools opening through August, data from the American Academy of Pediatrics and the Children’s Hospital Association show a 14% increase in child cases in the last two weeks, September 10-24.




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