You Ready for $1,000 COVID Stimulus Checks?

Yolanda Curtis
August 6, 2020

Now, it's August and as talks have stalled between Democrats and Republicans - there is renewed hope that a bill could be inked by as early as this week. They say they hope to strike a deal before Congress' scheduled August 7 recess, but a breakdown in talks could delay any immediate relief to millions of Americans impacted by the coronavirus pandemic.

A qualifying family of four could possibly receive $4,000, which would be about $600 more than what they received from the CARES Act, which authorized $1,200 payments to individuals and $500 for families. Democrats want to retain the $600 provided by their CARES Act while Republicans seek to reduce the amount to $200 as part of their proposed HEALS Act. If negotiations carry over to the next session, which starts September 8, it could be October before benefits begin arrive. However, they also acknowledge that there are still a few differences between the two sides. Their remarks were a sharp contrast to previous pessimistic statements two days earlier.

Schumer told reporters after the meeting that both parties had made "concessions".

It's just a matter of time, Treasury Secretary Steven Mnuchin said August 2.

"We anticipate that we will have a bill, but we're not there yet", said House Speaker Nancy Pelosi, D-Calif., on Saturday after discussions with the GOP leaders and White House officials. Meanwhile, Senator Chuck Schumer said, "They made some concessions, which we appreciated; we made some concessions, which they appreciated". We also have information on unemployment insurance, what you can do if you've lost your job, if you could receive two refund checks from the IRS and what to know about evictions. "Let's help our small businesses get going again, but unfortunately Democrats, they just want to waste your money", he was quoted in a report. "I have told my members, and I have told the minority leader and WHIP that no one should schedule themselves for next week or until such time as we adopt COVID-19 legislation". "There are schools that want to open that will need money for social distancing and PPE (personal protective equipment)".

"We have to have an agreement, and we will have an agreement", Pelosi told PBS Tuesday. The upcoming economic relief bill is not expected to earmark stimulus checks for individuals who take home $99,000 or more (and couples who earn $198,000 or more) per year.

Members of the U.S. Senate, which released the HEALS Act last week, are only scheduled to be in session until Friday, though that could be extended if Majority Leader and Kentucky Republican Mitch McConnell decides it is necessary to allow for more time to find a deal that Democrats will agree to and President Donald Trump will sign.

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