Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ US https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ The $ 2.2 trillion HEROES Act will provide a second round of incentive checks

The $ 2.2 trillion HEROES Act will provide a second round of incentive checks



House Democrats revised incentive bill will restore some popular programs that were created to help families overcome the coronavirus pandemic. Chief among them: $ 1,200 for adult incentive checks aimed at middle- and low-income families.

Democrats introduced the measure ahead of talks with Finance Minister Stephen Mnuchin. In a statement, Parliament Speaker Nancy Pelosi said the bill reflected a package that was $ 1.2 trillion less than the original Democrats’ HEROES Act in May, which failed to continue amid Republican opposition. The new bill is called the updated HEROES Act, which means “Emergency Solutions for Health and Economic Recovery”

;.

The new bill will also reimburse $ 600 in additional weekly unemployment benefits, which until the expiration of July provide a lifeline to tens of millions of adults who lost their jobs when the pandemic crippled the economy in March.

Although the country’s unemployment rate fell to 8.4% in August from a high of 14.7% in April, more than 21 million workers lost their jobs or lost their jobs due to the pandemic, according to the Institute for Economic Policy.

Reimbursing the additional $ 600 for weekly federal unemployment benefits would provide a critical boost to income, especially for recipients in states where unemployment benefits are limited to below-poverty levels, said Rebecca Dixon, executive director of the National Labor Law Project. via e-mail .

Still, the chances of passing the bill remain long. Parliament Speaker Nancy Pelosi told reporters on Thursday that Democrats and the Trump administration they were still far from each other on issues, including funding of state and local governments. “There is a strong difference not only in dollars but also in values,” she added.

The push to send the bill to a vote this week will have little chance of success, as Heights Securities analysts are giving it little chance of providing relief ahead of the Nov. 3 presidential election. But continued talks between Democrats and Mnuchin may suggest the bill is gaining momentum, analysts say.

The chamber is likely to vote on the bill on Thursday, signaling that the prospects for a deal between Democrats and the White House may weaken. However, even if the bill fails to progress, the legislation could become the basis for a new incentive if Democratic presidential candidate Joe Biden wins the White House and Democrats gain control of the Senate.

Who would get an incentive check?

A second incentive payment will reflect the initial round of inspections that was authorized in March by the Coronavirus Aid, Aid and Economic Security Act or the Care Act.

  • Individual taxpayers with incomes of up to $ 75,000 would receive $ 1,200.
  • Married taxpayers with incomes of up to $ 150,000 would receive $ 2,400.
  • An additional $ 500 for each addict.

As in the first round, taxpayers will see their payments decrease if they earn above these limits, gradually giving up $ 99,000 for single taxpayers and $ 198,000 for married couples.

One important change is how the updated incentive bill treats addicts. In the first round, only children under the age of 17 received payments of $ 500, and dependent adults – people over the age of 17 – were excluded. This means that older students who are said to be dependent on their parents’ tax returns are not eligible for $ 500 checks.

The updated HEROES Act specifies that any addict, regardless of age, will qualify for $ 500.

$ 600 unemployment benefits

The bill will also reimburse the $ 600 additional weekly unemployment benefits that were originally covered by the Care Act until July, when they expired.

The additional payments will take effect from September 6 and will last until January 31, providing more than four months of additional unemployment benefits to millions of families.

Many countries are currently providing an additional $ 300 in unemployment benefits, directed by President Donald Trump through an executive order in August. The state agency that controls these advantages has guaranteed six weeks of payments. Eight countries have already exhausted this compensation, according to UneruptionPUA.com, which tracks the program.

The average weekly unemployment benefit is about $ 333, or about $ 1,300 per month. Experts say this is far from enough to pay for basic things like rent, groceries and utilities in most regions.

Child care, food stamps benefits

The legislation includes spending on other programs designed to help families, such as a $ 225 billion proposal for education, including $ 182 billion for schools covering kindergarten up to 12th grade and $ 57 billion for child care.

An updated HEROES bill would increase the maximum benefit from food stamps by 15%, a measure supported by hunger strikers.

New census data show that “23 million adults reported that their household sometimes or often did not get enough to eat, which is a significant increase from a similar study in 2019,” said Robert Greenstein, president of the Liberal Center for Budget and Political Priorities, in a statement. “Children are particularly affected. Households with children are more likely to report difficulties in providing food and rent, which exposes children to serious difficulties that research shows can have long-term, adverse effects.”




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