The Stimulus Checks That Arrive Next Week!: Due to the advent of Coronavirus pandemic, the timeline for the new Stimulus Check is tight. We expect the next check to come sometime next week.
Also, read Stimulus Check: All The Details We Know!
We expect the Senate to engage the check as soon as possible because of the expiry date of the CARES Act. Nonetheless, the market has set its eyes on the check due to the falling economy.
Let us dive into the details of this new Stimulus Check.
Higher Than $40,000
It indeed is a piece of good news that the second stimulus check might exceed $40,000. However, we believe you have seen or heard Senate leader Mitch McConnell speaking of the check being for people who earn less than $40,000. While it is unclear where the income limit will be, a source said:
“a cap at that level is not seen as likely.”
At an event, McConnell said:
“I think the people who have been hit the hardest are people who make about $40,000 a year or less.”
Nonetheless, the income limit is not set as of now, which gives us hope. Additionally, USA President Donald Trump himself said that this years’ Stimulus Check is going to be huge, and it will exceed the expectations.
It’s no secret that America’s economy is falling, and half the population earns around $40,000 a year. The Federal Reserve Chairman, Jerome Powell explains how 40% of the US households are earning less than $40,000.
This happened because many people were laid off their jobs during the start of the pandemic.
We believe the amount will be higher. As I earlier said, President Trump, has announced in many interviews that this year they will give ‘generous amount’ of Stimulus. Moreover, he said:
“I support actually larger number than the democrats!”