$600 stimulus checks could roll out before end of 2020 — here’s how to find out if you qualify
Congress passed a second COVID-19 relief bill totaling roughly $900 billion on Monday. The package came with stimulus checks for Americans and additional unemployment benefits. It now goes to President Donald Trump for his signature.
Will I get a stimulus check?
U.S. citizens will get a stimulus check as long as they’re not a dependent of another taxpayer. Eligible citizens must have a social security number that is valid for employment.
How much will I see on my stimulus check?
American adults who earn less than $75,000 will receive the full $600 check, while couples who earn less than $150,000 will receive $1,200. The payments will be tapered for higher-earners (5% of the amount by which their adjusted gross incomes exceeded the initial threshold) and phased out completely for individuals who earn more than $99,000 and couples who earn more than $198,000. Dependents under the age of 17 are also eligible for $600 payments, according to FOX Business.
When will I get my payment?
Treasury Secretary Steven Mnuchin spoke to CNBC on Monday, saying the first payments should go out before the end of the year once Trump signs off on the bill. However, it could take longer for all eligible citizens to receive their money.
"The good news is this is a very, very fast way of getting money into the economy. Let me emphasize: People are going to see this money at the beginning of next week," Mnuchin told the network.
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Will it arrive via direct deposit?
Yes. The government issued both electronic and paper checks during the first round of stimulus checks earlier this year.
Do lawmakers think the amount is enough?
Determining the amount of the checks was split along party lines. Many democratic lawmakers wanted to increase the amount. The first round of stimulus checks that passed at the start of the pandemic totaled $1,200 for many Americans.
Democratic U.S. Rep. Rashida Tlaib wrote on Twitter, "How are the millions of people facing evictions, remain unemployed, standing in food bank & soup kitchen lines supposed to live off of $600? We didn't send help for 8 months."
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But Senate Majority Leader Mitch McConnell showed no signs of changing the amount when he first announced a deal on Twitter Sunday.
"Congress has just reached an agreement. We will pass another rescue package ASAP. More help is on the way," he wrote.
How does the new COVID-19 relief bill affect unemployment benefits?
Congress agreed to extend the time Americans can collect unemployment for an additional 11 weeks. That will last through mid-March.
How much more will I receive in unemployment benefits?
Americans receiving unemployment will now get an additional $300 per week. That’s down from $600 from when Congress passed the first COVID-19 relief bill.
This Associated Press and FOX Business contributed to this report. This story was reported from Los Angeles.