Hopes For A Second Stimulus Check Remains Faint
The coronavirus pandemic has affected the US the most with the maximum number of cases among all the countries. While hospital beds are getting filled within no time, there is another aspect that has taken a toll due to the virus. The economy of the US has hit rock bottom with the statistics showing numbers worse than the Great Recession. Amid all this, Donald Trump expressed his interest to pass the second round of stimulus checks to bring some relief to Americans. However, the negotiations for it did not come through and now the hopes for a stimulus check look bleak and uncertain.
What Did The First Stimulus Check Look Like?
The first stimulus check was passed in the Congress in March under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Moreover, the total value of the first check was around $2.2 trillion. The act expired after two months. Moreover, there were many conditions like the number of dependents under the age of 17. Many economists were unhappy with the stimulus as they felt it could not solve the real purpose for which it was proposed.
What Does The Second Stimulus Check Look Like?
As a measure to supplement the first stimulus check, the Republicans proposed the Health, Economic Assistance, Liability Protection, and Schools (HEALS) Act for a second check. The value of this is said to be $1 trillion. The upper limit for an individual is set at $1200. However, payment of tax remains an important aspect. Most of the poor people don’t pay tax and this could take away the purpose. On the plus side, it removes the age limit of 17 for the dependents. However, it is yet to be passed in Congress.
Why Can’t Donald Trump Pass The Stimulus Check?
Unlike other orders, a check passes through the legislation and Trump cannot directly issue an order. This is the reason why the CARES act and HEALS act have been put forward in Congress so that they become law and the money can be sent to the people of the US.