Talk about the second round of sending financial assistance in connection with the coronavirus began a few days ago, when Democrats in the House of representatives passed a bill providing for a new payment. This writes CNBC.
But even the first distribution of Federal assistance is still far from complete. As for second wave, then Americans should prepare for a potentially long waiting period of the money, if they appear at all.
The bill Democrats called HEROES Act provides for a second round of payments in the amount of $1200 to people with the same income thresholds as in the first round.
It will be $1 200 for people with incomes up to $75 000 and $2 400 for couples filing a joint tax return, who earn up to $150 000. These payments will be reduced for people with incomes above these levels and will not be paid to people with an annual income of $99 000 for individuals and $198 000 for couples.
The new bill provides a big payoff for the children — $1200 instead of $500 for each dependent (maximum three dependents). This means that under the new bill? families can receive up to $6,000.
The white house has signaled that it is open for another round of sending bailout checks. However, any proposal must pass through the Senate before it gets signed by US President Donald Trump.
The political deadlock
The Republican leadership of the Senate accepted the proposal of the democratic house is very cool.
The majority leader in the Senate Mitch McConnell stated that the next bill on assistance in connection with the coronavirus does not extend the period of Federal payments for unemployment. Now unemployed, in addition to benefits from the state, receive an additional $600 per week from the Federal government. And in his bill the Democrats have proposed to extend the period of validity of such payments until January.
The idea of additional checks have also drawn criticism from Republicans of the Senate.
Before the Senate adopt the draft on another mailing checks, it may take a long time. The upper chamber of Congress right now is not a session week, and on 3 July she will go on a two-week break.
The second deployment
If another round of shipments of checks will receive a green light from Congress and the tramp, the next question is how quickly the money can access the Bank accounts of Americans.
The administration still send the first checks. Although most of these payments were sent, millions of checks are still in the way.
According to the forecast, all shipping can take up to 20 weeks — or five months. This is due to the fact that the administration can send only a certain number of paper checks each week.
Therefore, even in case of approval of the new bill of money will have to wait for months.