Many are asking if Stimulus Check 2 has been approved. As with most Government interworkings, there’s an easy answer and a more complicated answer.
Let’s dive right in.
Stimulus Check 2 was approved by the House
The 1815 pages of the HEROES ACT was passed by the House of Representatives on May 12th, 2020. You may view or download the Full House Bill by clicking here.
The total value of the HEROES ACT is 3.5 Trillion Dollars and possesses more funds for jobless aid, a second batch of $1,200 checks, financial resources for essential workers, and aid for individuals missing mortgages and rent payments.
159 million stimulus checks from the original CARES ACT have been issued. There are around 30 to 35 million payments scheduled to be provided.
Troubles Passing the Senate
Senate Majority Leader Mitch McConnell said Congress may take a few more weeks. There has been a delay because of the protests over George Floyd’s death so it is estimated that after July they could declare a new bill that may include stimulus check 2, but it is not a guarantee. The expected job loss numbers were actually reported to have shown 2.5 million jobs created. This gives the Senate pause in moving forward with another stimulus check.
Meanwhile, at the White House
According to The Wall Street Journal, the White House is currently working its own proposal for stimulus check 2. The White House wants to reduce unemployment payments that were raised to $600. Then, offer tax breaks for those who will take a vacation within the US this year to inspire internal spending.
So, has Stimulus Check 2 been approved? Yes, by the House. Will we see a new deposit into our bank accounts? Not likely.
