ATLANTA — The continued economic fallout from the COVID-19 pandemic could mean Americans soon get another $1,200 check.
The nation is expecting details this week as Republicans roll out there “Virus Aid Package” on Monday. But there are a few details you need to know about this potential stimulus money.
Treasury Secretary Steve Mnuchin said the Republicans’ plan will have the support from the White House.
The $1 trillion bill comes a month after the Democrats rolled out their $3 trillion bill two months earlier.
Like the "CARES Act" in march, Mnuchin said the GOP bill will get $1,200 to Americans in August, following the same formula to determine who gets the money and how much.
11Alive's financial expert Andrew Poulos said that negotiation may be the easy part between both sides.
“I don't see Republicans and Democrats having a whole lot to argue as far as the stimulus checks,” Poulos said. “I think that's going to be, for the most part, an easy agreement to come upon.”
He said the hang-up, however, may come during the unemployment benefits discussions. Senate Republicans want to cut the $600 weekly benefit for out-of-work Americans back to $200 a week while the White House wants $100 a week.
Mnuchin called $600 a week ridiculous, saying it "disincentives" the unemployed from seeking work. The Democrats want to extend the current benefits until January.
“That's where I expect to see the bigger revisions and changes to the criteria with this next package,” Poulos said.
Because millions of Americans are impacted by the unemployment benefits ending, Poulos said he believes Congress will vote soon to send help to people.
“I would not be surprised if they passed something this week to address stimulus checks and unemployment, then, come back to the table,” he said.
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