House Speaker Nancy Pelosi unveiled the Democrats' $3 trillion coronavirus aid package, which includes a second round of stimulus checks for Americans. The legislation, which is called the HEROES Act, provides $1 trillion in funding to state and local governments, $75 billion for COVID-19 testing and tracing, extends unemployment benefits, and creates a $200 billion "Heroes Fund" to provide hazard pay for frontline workers.
The bill will also include an additional $1,200 check for individuals. Just like the previous stimulus checks provided by the CARES Act, individuals who make less than $75,000 would receive the full amount, while those who earn more will see their check decreased based on their income. The new bill will extend the $500 child credit to dependents who are over 18.
Senate Republicans said that the bill will not pass the chamber, arguing that another round of economic stimulus is not necessary right now.
"I don't think there's a sense of urgency to do it now because a lot of the money we've already appropriated hasn't been even gone out the door yet," Texas Senator John Cornyn said. "So, we're taking one day at a time."
If you haven't received your first stimulus check, you are running out of time to have it deposited into your bank account.
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