What exactly is happening with the $600 stimulus checks?
To be honest, why Congress took forever deciding whether to provide the American people with $600 is beyond me.
What felt like an infinite debacle surrounding the second round of stimulus checks, is finally coming to a close. After weeks of back-and-forth, the Treasury Department and the Internal Revenue Service said Americans can expect seeing $600 in their bank accounts next week.
I mean it took long enough.
If you currently have direct deposit set up with the IRS, you're likely to receive your check as early as Tuesday. If you are not eligible for direct deposit, paper checks are expected to mailed out beginning Wednesday. Individuals who meet income limits will receive $600; couples who meet income limits will receive $1,200; and eligible families will receive an additional $600 per child.
Individuals who made under $75,000 as an individual will receive the full amount. The same goes for couples who made $150,000.
For awhile, it felt as if the debate regarding the second round of stimulus checks would never cease, with a potential government shutdown on the horizon.
To be honest, why Congress took forever deciding whether to provide the American people with $600 is beyond me. But thankfully, Congress finally settled on an outcome and passed the second Covid-19 relief bill, with President Trump signing it last Sunday.
A new round of Economic Impact Payments is already on its way and direct deposits will continue into next week. There's no need to call or take any action – the #IRS will issue these as quickly as possible. See: https://t.co/VY0F1xzGPl #COVIDreliefIRS pic.twitter.com/2REkY57umd
— IRSnews (@IRSnews) December 31, 2020
However, it took a moment for the bill to finalize, thanks to Trump prolonging the process by arguing Americans deserved $2,000 instead of $600. I mean, Trump's not wrong... words I never expected to utter in my lifetime. When you consider the financial strain many Americans experienced as a result of Covid-19, $600 seems vastly insignificant.
The second round of stimulus payments is half of what Congress approved last March. On Monday, the House of Representatives passed a measure to increase stimulus payments to $2,000. However, Senate Majority Leader Mitch McConnell blocked quick passage of a bill, arguing the measure has "no realistic path to quickly pass the Senate."
On Tuesday, McConnell introduced new legislation to combine the increased stimulus payments with two policies Trump demanded Congress to examine. The only issue with that plan is it repeals Section 230 of the Communications Decency Act, which allows certain legal protections for big tech companies, and establishes a commission to study Trump's baseless claims of voter fraud during the 2020 election.
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