Second stimulus check Second stimulus check

Four facts you should know if a second stimulus check is approved

Although negotiations in Congress to approve another stimulus check remain stalled, both parties continue to say they support the measure. While we wait to see what will happen, there is some information that we already know  

Even without being certain about whether or not the second round of direct payments will be approved, there are four things we already know:

1. Democrats and Republicans agree on this matter

The second stimulus check has broad bipartisan support in Congress, but the measure has not yet been implemented due to dissent on other issues, primarily the total amount of the relief bill that would include direct payment.

The director of the National Reserve, Jerome Powell, told a congressional committee this week that the lack of stimulus would have an impact on the country's economy. For his part, the Secretary of the Treasury, Steven Mnuchin, assured that the White House approves the aid and Democratic legislators pressed to make it a reality.

2. IRS would send it faster than last time

Mnuchin promised to start sending the payment as soon as it is approved. The Internal Revenue Service began with the sending of the first stimulus check two weeks after its approval. The information that the agency has collected in these months and the technical problems that it has been able to solve will make the checks take less time to reach American homes.

3. The amount could increase in some cases

Although the exact amount is not yet known, both parties have agreed to send another $ 1,200 dollars and to expand the number of dependents for which you could receive extra money.

While the previous stimulus package (CARES Act) considered only those under 17 years as dependents, both the Democratic (Heroes Act) and Republican (Heals Act) bills contemplate eliminating the age limit.

4. IRS has several ways to send it

The federal agency delivered the first stimulus check through direct deposits (to 75% of recipients), paper checks (to 22%), and prepaid debit cards (to 3%). Those numbers could change because the IRS has now collected the data needed to send the money through bank deposits to more people than in the first round.

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