Second Round Of Coronavirus Stimulus Checks Could Be Introduced Next Week: Reports

The Senate may be introducing a second coronavirus stimulus package next week, though some details for discussion have already been revealed.

According to a report, a draft of the new recovery package is expected to be presented by Senate Majority leader Mitch McConnell as Congress returns from recess. The said package will have been authored by Republicans and will contain inputs from the White House.

The said draft of the new package will still be finalized but the salient points of the upcoming discussion has been provided by the said report.

The new package will have been supported by Democrats, Republicans and President Donald Trump, although the amount and criteria for eligibility is still yet to be established. But, currently proposed amounts range from $1,200 to as much as $2,000 per month.

The Majority Leader said that there is a high probability that the second stimulus check would only be a one-time payment and would be those who have an annual income of less than $40,000. He also cited that the second stimulus checks could be lesser than the first one.

In the discussion of how much money would go to state and local governments, McConnell said there is a chance that state and local aid could be approved though amounts may differ between parties.

Reportedly, there are differing views from Democrats and Republicans regarding the $600 federal weekly unemployment benefit which will expire at the end of this month. The former wishes to extend it while the latter views it as an incentive to remain unemployed.

Due to this, Senate Republicans and the White House are more inclined to support a $450 weekly re-employment bonus.

McConnell affirms that the new stimulus package will prioritize businesses, hospitals and schools and that it will be covering for liability insurance.

A perceived disapproval has been seen in a few items such as: a payroll tax cut championed by President Donald Trump, a $10,000 student loan forgiveness plan, an comprehensive infrastructure plan, and a $4,000 travel bonus for anyone who takes a vacation at least 50 miles from home.

Summer recess will end on Aug. 7 and it is anticipated that the new stimulus package could be decided around the said time.