In an interview in Texas with Yourbasin (opens in new tab), an ABC-operated affiliate, Trump responded to several questions about COVID-19, among them whether the president is satisfied with the Senate's new stimulus plan.
- Everything we know about stimulus check 2
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"We’re going to see it may go higher than that actually," said Trump when asked if a stimulus check 2 amount of $1,200 is enough.
"I’d like to see it be very high because I love the people," said the President. "I want the people to get it."
The President's comments on Wednesday suggests the White House is pushing for larger direct payments to Americans, which could further complicate stimulus check 2 negotiations and add pressure to getting another coronavirus relief bill passed before the Senate goes on recess August 10.
Stimulus check 2 amount: $1,200 or more?
A key similarity between the proposed stimulus check 2 vs stimulus check 1 is $1,200 payments for those who qualify. This could change if the President's statement on Wednesday about larger checks is considered in the ongoing stimulus plan negotiations.
For now, the HEALS Act calculator lets you determine your stimulus check 2 eligibility. If you meet the stimulus check 2 criteria, the calculator will let you know how much money to expect if the HEALS Act is passed in its current form.
If you’re a single taxpayer earning less than $75,000 or married earning less than $150,000, you’ll receive the full $1,200. That amount decreases the more you make, with relief phasing out for single filers earning more than $99,000 and married filers earning more than $198,000.
Stimulus check 2 cheat sheet: What's included in the HEALS Act
Wondering what else is included in the new stimulus check 2 bill? Here's a few of the key economic initiatives covered by the HEALS Act:
- $1,200 direct payments, same criteria as CARES Act
- Continued federal unemployment benefits, but for less than $600
- Paycheck Protection Program (PPP) sequel for business loans
- More funding to help schools
- More funding for COVID-19 testing, treatment and vaccine research
Bad economic news stresses need for stimulus
A stimulus check 2 seems to be sorely needed at this point, based on newly released data. As reported by CNN, the US economy contracted at a 32.9% annual rate from April to June. This would be the worst drop on record, according to the Bureau of Economic Analysis
America is in the midst of its first recession in 11 years, and many businesses remain closed, which is putting pressure on Washington to get the HEALS act passed.