Given the current situation, people are constantly wondering when will the second wave of stimulus check arrives at their relief. The second round of $ 1200 has been long-awaited by a huge number of American taxpaying citizens. However, the fate of this second round of stimulus checks does not seem very clear. At times it appears that it might arrive as the first thing next but at other times it seems quite distant. Here, we present to you the latest updates regarding stimulus check 2. Before giving the updates, here is a brief about what stimulus is and the first stimulus check wave.
What is a stimulus check?
A stimulus check is a check given to the taxpaying citizens of a country. This is done so to provide some relief due to any nationwide problems or to boost the economic status of the country. Currently, this stimulus check is being distributed among people to provide them with relief due to the coronavirus pandemic and the disastrous consequences it has brought to the lives of the people and in turn to the entire economy of the country. The measure is being taken to boost the nation’s economy even by fractions as the world is in ruins because of the pandemic.
The Internal Revenue Services or the IRS aimed at delivering the low-grade pay and the middle grade pay Americans with the stimulus check to help them. It claimed that by the beginning of June, it had provided a huge 160 million stimulus payments to the American citizens worth 270 billion dollars. The mode of stimulus payments was through a paper check, direct deposit, and prepaid debit cards. A timeline was created for the organized distribution of the stimulus checks among the American citizens. November 2021 was the deadline decided for the distribution of the first stimulus checks.
With the situation, many people wondered if there could be a second stimulus check and it seemed quite possible to happen. The Senate Majority Leader Mitch McConnell introduced a pack of proposals, called the HEALS Act which contains the second stimulus check payments. It is quite similar to the first one with $ 1200 for an individual and $ 2400 for a married couple with a $500 additional payment for any dependents. Earlier, dependents over 17 were not eligible for the payments but this time around, they are made eligible for the additional payment.
However, confusion and unsettlement were created with congress breaking and no conclusion is drawn. The bill was updated several times and yet failed to be passed due to unsettled negotiations. Deadlines were created and failed to meet for the stimulus checks. The House speaker, Nancy Pelosi has stated that she is still hopeful of the situation and expects something to be finalized before the elections. She expects a consensus to be reached and the bill to happen before 3rd November i.e. in a week.
An almost consensus was reached but slight disagreement over specifics lead to the inability to pass the bill. A revised HEROES Act has already been passed worth $ 2.2 trillion. The latest proposal of the White House amounts to be $1.9 trillion with the stimulus check 2.