Last edited on May-13-20 at 12:33 PM (Eastern) by 69.61.173.205Posted on May-13-20 at 12:31 PM (Eastern) by 69.61.173.205
On Tuesday, House Democrats launched a bid for a second coronavirus relief bill worth $3 trillion, which would include another direct monetary payment for individual Americans alongside relief for businesses and people who are unemployed, the US postal service and coronavirus testing costs (view the bill here). The IRS is still making stimulus payments of up to $1,200 per person to millions of Americans for the first COVID-19 economic stimulus package, worth $2 trillion.
Right now, the economic impact payments being issued by the IRS through direct deposit to banks and by checks in the mail were introduced as part of a one-time payment designed to help curb the financial blow caused by the outbreak of COVID-19. Now, the proposed legislature to sign a second 2020 stimulus check is being fueled by a 14.7% unemployment rate in April, more than 33 million people filing first-time unemployment claims since mid-March, and the country barreling toward a recession that economists predict globally could be the worst since the Great Depression.
In the past few days, the idea of this bill has moved from a future-looking conversation to fleshed-out legislation. Here's what we know about a second round of stimulus payments in 2020 for individuals. This story updates frequently in light of new information, and is intended to provide an overview of the situation.
CNET CORONAVIRUS UPDATE May 12, 2020 8:09 p.m. PT
https://www.cnet.com/personal-finance/will-we-get-another-irs-stimulus-check-what-we-know-about-the-proposed-second-round/
