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The $ 2.2 trillion HEROES bill would allow for a second round of stimulus checks



The House Democrats revised stimulus calculation would restore some popular programs designed to help families cope with the coronavirus pandemic. Chief among them: $ 1,200 per adult stimulus check for middle- and low-income families.

The Democratic legislature introduced the measure ahead of negotiations with Treasury Secretary Steven Mnuchin. In a statement, House spokeswoman Nancy Pelosi said the bill reflected a package that was $ 1.2 trillion less than the original HEROES Democratic bill in May, which got stuck in the face of Republican opposition. The new bill is called the updated HEROES Act, which stands for the Omnibus Emergency Solutions Act for Health and Economic Recovery.

The new bill would also restore an additional $ 600 weekly unemployment benefit, which by July expired, would provide a lifeline for tens of million adults who lost their jobs when the pandemic crippled the economy in March.

Although the country̵

7;s unemployment rate fell from 14.7% in April to 8.4% in August, more than 21 million workers remain unemployed or unemployed as a result of the pandemic, according to an estimate by the Economic Policy Institute.

Restoring the additional $ 600 weekly unemployment benefit would be a significant income boost, “particularly for recipients in states where unemployment benefits are capped below poverty levels,” said Rebecca Dixon, executive director of the National Employment Law Project , by email .

Even so, the chances of handing over the bill remain great. House spokeswoman Nancy Pelosi told reporters Thursday that Democrats and the Trump administration were still far apart on issues such as funding from state and local governments. There is “a big difference not only between dollars but also between values,” she added.

A move to get the bill to a vote this week has little chance of success, as Heights Securities analysts give it little chance of getting some relief before the November 3rd presidential election. However, continued negotiations between Democrats and Mnuchin could indicate the bill is gaining momentum, the analysts noted.

The House is likely to vote on the relief bill on Thursday, signaling that prospects for a Democratic-White House deal may be fading. Even if the bill doesn’t move forward, if Democratic presidential candidate Joe Biden wins the White House and Democrats take control of the Senate, the legislation could become the foundation for another business cycle.

Who would get a stimulus check?

A second incentive payment would reflect the first round of checks approved in March by the Coronavirus Aid, Relief and Economic Security Act, or CARES Act.

  • Individual taxpayers with incomes up to $ 75,000 would receive $ 1,200.
  • Married taxpayers with incomes up to $ 150,000 would receive $ 2,400.
  • Another $ 500 for each addict.

As in the first round, taxpayers would reduce their payments if they earned above these limits. For single taxpayers, $ 99,000 would expire and for married couples, $ 198,000 would be phased out completely.

One important change is how the updated stimulus bill treats dependents. In the first round, only children under the age of 17 received the $ 500 payments, and adult dependents – those over 17 – were excluded. That meant older high school and college students who are claimed to be dependent on their parents’ tax returns did not qualify for the $ 500 checks.

The updated HEROES law states that any addict, regardless of age, would qualify for the $ 500.

Unemployment benefit of $ 600

The bill would also restore the additional $ 600 weekly unemployment benefits originally governed by the CARES Act until July when it expired.

The additional payments would run retrospectively from September 6th through January 31st and provide more than four months of additional unemployment benefits to millions of families.

Currently, many states are providing an additional $ 300 in unemployment benefits, run by President Donald Trump under an August executive order. The government agency overseeing these services has six weeks guaranteed of payments. Eight states have already taken advantage of this, according to UnemploymentPUA.com, which tracks the program.

The average weekly unemployment benefit is about $ 333, or about $ 1,300 per month. Experts say this is nowhere near enough to pay for staples like rent, groceries, and utilities in most regions.

Child care, food stamp services

The legislation includes spending on other family support programs, such as a proposal to spend $ 225 billion on education, including $ 182 billion on kindergarten through 12th grade schools and $ 57 billion on childcare.

The updated HEROES bill would increase the maximum benefit for grocery brands by 15%, a measure supported by anti-hunger advocates.

New census data shows that “23 million adults said their household did not get enough to eat sometimes or often, a sharp increase from a similar survey in 2019,” said Robert Greenstein, president of the liberal Center for Households and Health Budget Policy priorities in a statement. “Children are particularly hard hit. Households with children are more likely to report difficulties with providing food and rent, which exposes children to serious difficulties that research shows can have lasting, adverse effects.”




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