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The Big Changes In This Stimulus Check And How much will you receive? Updates

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As the first stimulus package comes to an end in July, Americans are looking forward to the second stimulus check.

But it’s not gonna be like the first one. The second stimulus check comes with its own new rules, and everyone will not be applicable for it.

The initial doubt about whether there will be any second stimulus check or not has finally come to an end. Now the next thing to know is if you are eligible to have it or not and how you can claim it if you are.

Read on to know more about this.

How much will you receive?

The Big Changes In This Stimulus Check And How much will you receive?

Millions of Americans received a stimulus check of up to $1200 under the CARES Act. Along with that, each eligible child of the family received $500.

This was the plan for couples making less than $150,000 and individuals earning less than $75,000.

Now under the HEROES Act, every member of the family, including children, will receive a sum of $1200 each. The income threshold is the same as the last time.

This means that each family will receive a sum of $6000 total while it earlier received only $3400.

Those who are eligible for the second round of payment are SSDI recipients, families of up to 5, college students, disabled relatives and parents of a taxpayer.

Along with them, non-citizens, those who pay tax through Individual Taxpayer Identification Number, and over 17 dependents.

The big changes in this stimulus

The major change that the second stimulus package introduces concerns enhanced unemployment benefits.

Treasury Secretary Steven Mnuchin explained about the changes. As per these changes, no one will receive more than the 100% of what the person would get if he/she were employed.

These are the terms and conditions of Republicans and whether Democrats agree to this or not is yet clear.

We already told you what the thresholds for a second stimulus package would be. So far, we do not know if the threshold could be altered or not.

Another new thing that the second stimulus package introduces is a debate over who are the β€œover 17 dependents”.

Apart from these, many other things, both the parties have to discuss many other aspects and reach an agreement.

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Astha Mishra

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