July 9, 2020 / Jim Wang, Contributor
All eyes are on the Senate when it returns from its two-week July 4th recess on July 20th and will start crafting legislation for the next stimulus bill.
A second stimulus check feels like a guarantee but we are still missing a lot of key details.
How “generous” will it be? Who will qualify? And when can you expect one?
When House Democrats passed the Heroes Act in mid-May, with a second stimulus check, it was considered dead on arrival.
Now, President Trump strongly supports a second check and is waiting for Congress to place a bill on his desk. The timing is critical for this fourth and final stimulus bill as several ongoing Cares Act benefits, including federal $600 weekly unemployment benefits, are set to expire soon.
While the national unemployment rate is decreasing, many households still struggle financially due to the pandemic.
We won’t know precise details about the second stimulus check until the Senate returns to discuss another stimulus package. Initial reports indicate the total bill size is around $1 trillion—giving us plenty of leads of what the check might look like and who qualifies.
