Will I Be Getting a Second Stimulus Check? - Slimmer Payments

Will I Be Getting a Second Stimulus Check?

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As Congress debates the details of the next COVID-19 relief package, millions of Americans are wondering if they will be getting the second stimulus check. Here is what we know.  

Right now, it seems that the latest $900 billion pandemic relief package will include support for hurting Americans in the form of $300 enhanced weekly unemployment benefits, more money for small business loans, funding to help with vaccine distribution, food assistance, and emergency rental relief.

So who will be getting a second stimulus check?

The legislation will also include a second round of stimulus payments. The payments are expected to be $600 to $700 per individual. This is down from the $1200 of the first round of checks. However, the amount could add up to more per family. It seems that the new stimulus payments will be available for dependents, including adult dependents such as college students.

Right now, Congress seems to be basing eligibility for the checks on the same income standards in the CARES Act. This provided full $1,200 payments to individuals earning less than $75,000 and $2,400 for married couples making less than $150,000.

Those who earned more than those thresholds received smaller payments. The money phased out completely for individuals who earn over $99,000 and married couples with adjusted gross incomes above $198,000.

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