The Next Round Of Stimulus Checks Begin Rolling Out Next Week
Treasury Secretary Steven Mnuchin said Monday that the government would begin to send out $600 checks to millions of Americans next week. This money will recirculate in the economy and will help small business, the Treasury secretary said.
The $600 checks will only go out to individuals making less than $75,000 a year or couples making less than $150,000. Similar to the previous CARES Act, individuals making between $75,000 and $100,000 will receive gradually smaller payments while individuals making $100,000 or more will not receive a payment. However, Dependent children will be receiving $600 this time, rather than $500.
Not everybody thinks this is enough.
Bernie Sanders of Vermont, has insisted that any new relief bill include another round of checks worth $1,200 for low and middle-income Americans.
The $900 billion stimulus will help jobless workers by adding 11 weeks to the unemployment programs that are set to expire by the end of December. The Pandemic Unemployment Compensation (PUC), which had provided $600 a week to jobless workers until it expired in July, will be renewed with weekly benefits of $300.