October 31, 2020

Is a Second Round of Stimulus Checks for $2,000 Each Month in Our Future?

There are a lot of lawmakers on Capitol Hill who don’t think a one-time $1,200 stimulus check will be enough to pull the U.S. economy out of a recession. That’s why there’s a lot of talk about a second round of stimulus checks. Some of the talk centers around a bill that has already been introduced in Congress by Rep. Ro Khanna (D-CA) and Rep. Tim Ryan (D-OH). Their bill goes quite a bit further than the original stimulus check provisions in the CARES Act. If enacted, it would give every qualifying American over the age of 16 a stimulus payment of up to $2,000 each month for up to a year (plus $500 for up to three children).

(NOTE: The proposal from Reps. Khanna and Ryan described in this article was not included in the HEROES Act, which House Democrats introduced on May 12, 2020. Instead, a more modest plan for another single payment found its way into the bill. However, the HEROES Act will not get through Congress–at least not in its original form. As a result, other second-round stimulus payment plans remain possible. Plus, in addition to the Khanna-Ryan proposal, there’s a plan from Sens. Kamala Harris (D-CA), Bernie Sanders (I-VT) and Ed Markey (D-MA) to provide $2,000-per-month stimulus checks. For more on the HEROES Act plan, see How a Second Stimulus Check Could Differ from Your First One.)

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