Vice President Mike Pence confirmed the White House’s commitment to disburse the second round of stimulus checks to Americans last Friday in an interview on CNBC.
Pence stated, “Nobody wants to give direct payments to American families more than President Donald Trump,”.
Translation – We want to get the second round of stimulus checks out to improve Trump’s chances of re-election.
The second stimulus payout is slated to be similar to the first, but there has been talks of some slight changes.
Democrats proposed to raise the dependent payout from $500 to $1200 for a maximum of three children, making a family of 5 eligible for up to $6,000.
Republicans proposed to keep the second round payout the same as the first round payout.
Both parties agreed that they would like to eliminate the age cap for dependents, meaning there wouldn’t be any age restrictions on your dependents.
Currently, the age cap for dependents is your dependent must be younger than 19 years-old or a student younger than 24 years-old.
The problem is if the age cap is removed it will take longer to disburse the checks because more people will be eligible.
Keeping the same terms as the first payout would be the fastest way to distribute the checks.
If the terms remain the same the payout will be $1200 checks for adults and $500 for dependents.
Republicans are incentivized by the pending election to agree on the payout soon.
The reality is many Americans need much more money than the government is willing to give, but at this point, every little bit counts.
Only time will tell if we actually see another stimulus check.
Do you prefer the Democratic proposal or the Republican proposal?
Source: CNBC
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