McConnell Finally Confirms GOP Support For Second Round Of Stimulus Checks

TOPLINE

Senate Majority Leader Mitch McConnell (R-Ky.) on Tuesday confirmed Republican lawmakers’ support for a second round of stimulus checks, but the amount of the payments and the restrictions on income are yet to be revealed.

Senate Majority Leader Mitch McConnell (R-KY) speaks to the media after weekly policy luncheons on … [+] Capitol Hill July 21, 2020 in Washington, DC.

Getty Images

KEY FACTS

“We want another round of direct payments to help American families keep driving our national comeback,” McConnell said on the Senate floor on Tuesday.

Congressional Democrats and President Trump are also on board with the second round of checks.

Under the $2.2 trillion CARES Act, the IRS sent direct payments of $1,200 to qualifying Americans making less than $75,000 per year (or $150,000 for couples filing jointly), plus $500 for dependent children under age 17.

It’s not yet clear if the next round of checks will be the same as the CARES Act’s direct payments; some have speculated that Republicans will want to lower the income threshold and narrow the scope of recipients to those earning $40,000 per year or less.

Key background

Lawmakers returned to Washington this week to hash out the next, and likely last, round of rescue legislation before they leave again for an August recess. They’re sharply divided on a raft of issues, from aid to state and local governments to funding for school reopenings to expanded unemployment to liability protections for businesses. McConnell is expected to release the GOP’s proposed bill sometime this week.

Further reading

21 Republican Governors Push For ‘Common Sense’ Coronavirus Liability Protections In Next Stimulus Bill (Forbes)

GOP Leaders Meet With Trump On Stimulus Package—Here’s What We Know (Forbes)

Report: Trump Wants To Block Funding For Virus Testing, CDC In Next Stimulus Package (Forbes)

Top GOP Lawmaker Says No Stimulus Bill Until August (Forbes)

Continue reading at Forbes