Amid the ongoing COVID-19 pandemic, the U.S. government has been on the front lines of providing economic relief to millions of Americans. The first stimulus check, under the CARES Act, was issued in April 2020, providing a much-needed relief to eligible individuals and families.
However, as the pandemic continued to rage on, many people were left wondering if there would be a second stimulus check. After months of negotiations, the government finally reached an agreement on a second stimulus check.
So, what is the stimulus check 2 agreement?
The second stimulus check agreement was reached in late December 2020 as part of a broader $900 billion COVID-19 relief package. The agreement specifies that eligible individuals will receive a one-time payment of up to $600, depending on their income level and family situation.
Individuals earning up to $75,000 per year will receive the full payment of $600, while those earning above $75,000 but below $99,000 will receive a reduced amount. Families with children under the age of 17 will also receive an additional $600 per child.
The eligibility criteria for the stimulus check 2 remain largely the same as the first stimulus check. Individuals must have a valid Social Security number and be a U.S. citizen, permanent resident, or qualifying resident alien. They must also not be claimed as a dependent on someone`s tax return.
The second stimulus check is expected to reach eligible individuals by the end of January 2021. However, there may be some delays due to the size and complexity of the distribution process.
It is important to note that the second stimulus check is not a permanent solution to the economic challenges brought on by the pandemic. Many families and small businesses continue to struggle, and the government will need to explore additional relief measures moving forward.
In conclusion, the stimulus check 2 agreement is a much-needed relief for millions of Americans impacted by the pandemic. It provides a temporary source of financial support for eligible individuals and families, but more permanent solutions will need to be explored to address the ongoing economic challenges.