On Monday, Senate Republicans released their proposal for the next stimulus package. The $1 trillion bill known as the HEALS Act includes money for stimulus check 2 and an extension of federal unemployment benefits (but at a reduced rate).
Let’s take a look at what Americans can expect if the HEALS Act moves forward.
- Stimulus check 2 HEALS Act calculator launched — see how much you'll get
- Everything we know about stimulus check 2
- Just in: Stimulus check 2 vs stimulus check 1 — what's different
HEALS Act: Stimulus check 2
The direct payments included in the HEALS Act are essentially the same as those provided under the CARES Act, meaning workers who earn less than $75,000 per year (if single) or $150,000 per year (if married) can expect a stimulus check 2 amount of $1,200.
Those earning more (up to $99,000 for single workers and $198,000 for those who are married) will receive pro-rated benefits.
However, those with dependents would get slightly more money with stimulus check 2. The Heals Act expands the $500 benefit to include any dependent, including adult dependents with no income. The CARES Act offered this benefit only to children ages 16 and under.
This expansion is similar to what has been proposed by House Democrats under the HEROES Act passed in May, although that bill would provide the full $1,200 for each dependent, up to $6,000 per family.
To find out how much you would receive with stimulus check 2 with the HEALS Act, enter your tax information into the stimulus check 2 calculator. And if you still haven’t received your first relief payment, check your status using the IRS's Get My Payment app or call a representative at the IRS stimulus check phone number.
HEALS Act: Reduced unemployment benefits
The CARES Act provided an additional $600 per week in federal unemployment benefits to workers enrolled in state unemployment programs. That provision expires on July 31.
The HEALS Act would continue federal unemployment payments, but at a reduced rate and for a limited time.
Senate Republicans are proposing a $200-per-week federal supplement for two months, during which states will be expected to transition to a system that pays out benefits up to 70% of laid-off workers’ wages.
Some lawmakers have expressed hesitation about the states’ abilities to implement a new benefit system in that short timeframe.
HEALS Act: Funding for schools and small businesses
The HEALS Act would also provide money to support schools reopening amid COVID-19, as well as a second round of funding for the Paycheck Protection Program (PPP) aimed at supporting small businesses.
Not included is a controversial payroll tax cut, a proposal pushed by the White House but rejected by House Democrats and many Senate Republicans.
HEALS Act: What’s next?
Senate Republicans and House Democrats must reach a consensus, and President Trump must sign the final bill. There is a sense of urgency, as the current federal unemployment benefits expire and the Senate is scheduled to start its next recess on Aug. 10.