The Democrat-controlled House passed a bill to provide another round of relief checks to Americans.
Reports indicate they want to give Americans a second check for $1,200. But Senate Republicans held up passage, concerned over the massive costs.
Senators wanted to avoid the pitfalls of previous emergency bills while making sure relief went to those who need it.
It looks like the bill will soon be passed, with these guidelines:
It would give an advance on a refundable tax credit of $1,200 to qualifying Americans plus an additional $500 for dependent children under 17 years old…
Single filers who earn less than $75,000 a year will get the full benefit. Those who earn more will see their check reduced by 5% of the amount they earn over $75,000.
Previous attempts at providing relief due to the government’s forced lockdowns were met with criticism.
A program designed to provide loans to small businesses was infiltrated by major universities and corporations.
Millions of dollars meant to go to save the paychecks of small businesses instead went those who did not need it.
A few fraudsters took hundreds of thousands and blew it in Vegas.
Others criticized the relief checks, saying it should only go to those who need it. Many wondered if paying people to stay out of work was a wise decision.
The current bill will provide checks to Americans earning $75,000/year or less. Joint filers who earn less than $150,000/year will also get checks.
Deadlines to pass this package, though, are coming fast. If Congress gets this to Trump’s desk by August 7th, checks could go out the same month.
But if there is more gridlock before the August recess, checks might not go out until much later.
Still, others believe handing out checks to millions of Americans—even with the current restrictions—is not the best solution.
Reopening the country so that the millions out of work can earn real paychecks, is.
- After the House passed a new relief bill, the Senate held it up.
- Now it appears the bill will soon be passed, providing checks for Americans.
- If passed by August 7, the checks could go out as early as that month.