In an interview with Fox News, President Trump stated that he not only supports another round of stimulus payments, but wants the payments to be higher. This is not the first time that President Trump has mentioned his support for another stimulus check.
Blake Burman, a FOX Business reporter, asked President Trump if he supported another round of direct payments to people.
President Trump replied: “I actually support a larger number than Democrats, but it must be done correctly.”
When asked whether or not he supported a larger stimulus check or increased unemployment insurance, President Trump replied, “I want the money that comes to people to be bigger so they can spend it. I want the money to come quickly. and in a -complicated fashion. “
How big will the next stimulus check be?
The current proposal on the table is the HEROES Act, which was passed by the House and is awaiting a Senate vote (not expected to pass).
This HEROES Act requires a stimulus payment of $ 1,200 per stimulus check per adult, and $ 1,200 per qualified dependent, up to three dependents per family, for a maximum of $ 6,000 per family.
There is eligibility of income limits, which are similar to those approved in the CARES Law.
President Trump did not specify how large he wanted the upcoming stimulus payments to be, only that he wanted them to be larger than previous checks or the current proposal that Democrats have supported.
The stimulus verification proposal of the HEROES Act is already a little more generous for many families than what was available under the CARES Act.
The stimulus payments under the CARES Act were $ 1,200 per qualifying adult and $ 500 per qualifying child, age 16 and under. A family of four would be eligible to receive $ 3,400 under the CARES Act.
However, the HEROES Act requires $ 1,200 per qualified dependent. This would be $ 4,800 for a family of four.
The HEROES Act also extends eligibility for those who qualify as dependents, since it does not establish an age limit for dependents. It also provides payments to other people who were excluded under the CARE Act.
We cannot know for sure how large the next stimulus payment will be or how large or one payment President Trump would support. But we can see other proposals on the table.
Other stimulus check proposals require $ 2,000 of stimulus checks per month
Let’s be under no illusions yet: The $ 2,000 monthly stimulus verification proposals have gone nowhere and are likely to fail.
But we can look at the framework of these proposals to get an idea of what these proposals would look like for families if they were changed to be a lump sum rather than a continuous payment.
Here are the proposals to date. You can click the links for a more complete description.
- the Emergency money law for the people would provide a $ 2,000 monthly stimulus check for up to one year.
- the Automatic Boosting Communities Act (ABC) would provide a $ 2,000 monthly stimulus check for a minimum of 12 months during the pay period, with another $ 1,000 monthly payment for 12 months after the pay period ends. The monthly payment amount is the same for adults and dependents. There are no income limitations.
- the Monthly law to support the economic crisis would provide a $ 2,000 monthly stimulus check for individuals and up to three dependents for at least six months. There are income eligibility limitations.
Again, none of these specific bills are likely to pass. However, they could be modified and used as a framework for a future proposal for a single payment, or possibly for continuous payments in a shorter period.
President Trump Supports Another Stimulus Control: Will Congress Endorse It?
HEROES Act Proposal – $ 1,200 stimulus check for individuals and up to $ 6,000 for families
Stimulus Payment Round 2: A summary of 5 current stimulus proposals
The White House considers $ 450 per week ‘Back to Work Bonus’
$ 2,000 monthly stimulus check? 5 reasons why it can’t happen
What your next stimulus checkup would look like