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Looking for stimulus check 2? Those making over $40,000 may not get it

Mitch McConnell stimulus check
(Image credit: Alex Wong/Getty Images)

Stimulus check 2 has been in limbo for weeks as pending legislation sits in the Senate, but Sen. Mitch McConnell said on Monday that a second round of benefits could be coming soon. Individual payments may be more limited than expected, however. 

In a public appearance on July 6, McConnell said he’d introduce his own version of a stimulus package when the Senate returns from recess later this month, NBC News reports. At a separate event, McConnell said a second stimulus bill “could well” include direct payments to individuals and families, though he noted that those earning less than $40,000 have been “hit the hardest.” 

Under the Heroes Act, which the U.S. House of Representatives approved in May, a second round of stimulus benefits would go out to those who received payments under the Cares Act — plus expand benefits for dependent children and workers with taxpayer identification numbers. 

McConnell’s remarks don’t necessarily mean that benefits will be limited to low earners. The stimulus check 2 calculator still suggests those who earn less than $75,000 would qualify for the second payment. However, the Senator did indicate that this round of stimulus payments will be the last.

President Trump recently said he supports “larger numbers” for a second stimulus package, though he did not specify how much.

Who the Heroes Act helps

The House-approved version of the Heroes Act does not lower the income cap for stimulus check 2. In fact, more people would qualify for more money with their second stimulus check.

As with the Cares Act, single taxpayers making less than $75,000 per year and married taxpayers making less than $150,000 annually would qualify for the full $1,200 payment. Taxpayers earning up to $99,000 (if single) and $198,000 (if married) would receive prorated benefits, and payments drop off entirely for those earning more. 

The Heroes Act increases payments for dependent children from $500 for kids 16 and under to $1,200 for all claimed dependents, up to $6,000 per household. Workers who pay taxes using a taxpayer identification number rather than a Social Security number would also qualify for stimulus check 2. 

How to track down your first stimulus payment

The federal government started sending out stimulus benefits provided under the Cares Act earlier this spring, but the lengthy processing time means you may not have received what you’re eligible for yet. 

To track your payment status, use the IRS's Get My Payment app, and set up stimulus check notifications via USPS's Informed Delivery tool to get an alert when your check or stimulus check debit card is scheduled for delivery. 

You can also call the IRS stimulus check phone number and speak to a representative.