The 3 stimulus plans Congress is debating that could put extra cash into your bank account - Business Insider

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The 3 stimulus plans Congress is debating that could put extra cash into your bank account

There are

among congressional Republicans as well. Many don't believe it's needed to boost the economy, but some lawmakers have signaled they are open to the idea if it's a targeted measure.Under the CARES Act, $1,200 stimulus checks were sent to individuals earning under $75,000 a year , plus an extra $500 for dependent children. Payments phased out at $99,000 for single-filers and $198,000 for couples. would give mixed-status families with unauthorized immigrants a $1,200 stimulus check.

But many Republicans argue that amount should either be phased out or lowered so workers don't earn more on unemployment than they were making at their old jobs. would get more money from the government than from their previous employer if the supplement was extended through the end of the year. Unemployment, though, is projected to remain in the double-digits for much of the year, according to the Congressional Budget Office and the Federal Reserve.to extend the federal boost to weekly unemployment payments past July for up to $400, but tie it to the economic health of individual states.Brendan McDermid/Reuters

Several Republicans rolled out proposals for a hiring bonus, arguing it would be effective to get people off unemployment rolls and returned to work.for a $1,200 bonus, which is equivalent to a jobless person collecting two weeks of expanded unemployment benefits.

 

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