What might the next round of stimulus checks look like? The economy will have a lot to do with it.
Proposals continue to be floated on what form the next round of stimulus will take in response to COVID-19. Whether stimulus checks are included is key. There are at least three proposals from lawmakers on the table at this point, some are more generous, others less. However, it’s largely positioning at this point. Multiple stakeholders don’t see the detailed discussions on the next phase of any stimulus starting until July. The recent mild reduction in unemployment from May, though positive, may lift urgency on stimulus checks, to some degree.
By the time lawmakers are debating another round of stimulus, it’s likely another month of unemployment data for June will be in too. That could move the discussion, if jobs are coming back, lawmakers may see less need for more checks, whereas if the economic risk heightens, payments are more likely. We appear to be in a very first steps of recovery, and perhaps past the absolute worst. However, many factors could change that including the pace of reopening and how virus case numbers evolve.
The primary proposal so far, which the Democratic led house has passed, is the HEROES Act. This offers relatively generous $1,200 payments per person. This is subject to limit limits, but is generally more generous than the last round in how children and other dependents are treated. However, the measure has not passed the Senate at this point it seems unlikely to in its current form.
