Republican senators propose $1,000 stimulus checks

Personal finance

Sen. Marco Rubio, R-Fla. listens at left as Republican presidential candidate, former Massachusetts Gov. Mitt Romney speaks during a news conference prior to a town hall-style meeting in Aston, Pa., Monday, April 23, 2012.

Jae C. Hong | AP

A second set of stimulus checks could be on the way, but the ink on the deal hasn’t dried yet.

On Thursday, a group of Republican senators introduced a bill that would lower the sum the government sends out to $1,000. Previous Republican and Democrat proposals have called for $1,200 checks to adults and $500 to dependents.

Under the terms of the new bill, the $1,000 checks would be sent to all Americans, regardless of their age or dependent status.

More from Personal Finance:
Trump wants stimulus checks to be more than $1,200
How HEALS Act stimulus checks would be different
How soon you can expect another stimulus check in the mail

Both adults and dependents would need to have valid Social Security numbers in order to receive the money. Under the bill, a qualifying family of four could potentially receive $4,000 — $600 more than they would receive under the CARES Act.

The bill is called the Coronavirus Assistance for American Families Act. It was proposed by Sens. Bill Cassidy, R-La.; Steve Daines, R-Mont.; Mitt Romney, R-Utah; and Marco Rubio, R-Fla.

Unlike the CARES Act, this proposal would include all adult dependents, including college students and individuals with disabilities.

Americans who are married to foreign nationals would also be eligible.

Individuals who are foreign nationals or who file their tax returns with Individual Taxpayer Identification Numbers, or ITINs, would not qualify.

Articles You May Like

Dental supply stock rallies on theory RFK’s anti-fluoride stance will prompt more dentist visits
Some market experts are talking about ‘animal spirits.’ Here’s what that means when it comes to investing
CFPB expands oversight of digital payments services including Apple Pay, Cash App, PayPal and Zelle
Here’s why Trump’s tax plans could be ‘complicated’ in 2025, policy experts say
Medicare Premiums For 2025 Rise 5.9%, Other Out-Of-Pocket Costs Increase

Leave a Reply

Your email address will not be published. Required fields are marked *