The next wave of the Stimulus package might happen before 2020 ends.
$1200 Stimulus Package
Congresswoman Nancy Pelosi agrees that a new wave of financial assistance through the Stimulus package will be beneficial to the country’s economy and its constituents. A limit of $1200 per individual is expected from the second wave of the Stimulus package. Discussions about the approval of the next wave of financial assistance are still on the works.
However, expectations should not be as high since several factors will still affect the amount an individual will be receiving if in case the second wave of distribution does push through. Factors such as gross income and previous tax statements will hugely affect the calculated amount for the release of cash assistance. Qualification of beneficiaries from the initial wave of the stimulus package will be used to help calculate the proceeds for the next wave.
Financial Assistance packages
The initial wave of financial assistance was under the CARES Act, a bipartisan agreement. Under the guidelines of the CARES Act, children over 17 years old and above are excluded from the list of dependents of a beneficiary. However, there was no limit on the number of children to be listed as dependent under an individual’s name.
Under the Republicans’ HEALS Act, the limit per individual is maxed at $1200, however, per family, there will be no actually capping on the max amount of financial assistance one family can get. The HEALS Act also does not limit dependents to those under 17 years old only.
However, the big question would be, when? The Senate is still in recess and probably won’t be in session until September 8. In addition, another Senate bill is to be introduced and most likely be given budget priority. Beneficiaries might have to wait for further updates if another wave of financial assistance does come up anytime soon.
