The second stimulus checks passed by the Congress are said to be less than half the amount democrats wanted, with Biden assuring third checks.
The bill combines coronavirus relief funds with financial comfort for individuals and businesses. The package would establish a temporary $300 per week supplemental jobless benefit and a $600 direct stimulus payment to Americans, with new subsidies for hard-hit businesses, restaurants, theaters, and money for schools, health care providers, and renters facing eviction.
On direct payments, the bill provides $600 to individuals earning up to $75,000 per year and $1,200 to couples making up to $150,000 annually. An additional $600 payment would be made per dependent child, similar to the last relief payments in March 2020. Democrats had demanded a much higher package than the one passed on Dec. 21, 2020.
Later, President-elect, Joe Biden in his press meet at Delaware on Dec.22, has affirmed that Americans would have another stimulus cheque in Jan.2021 after he takes office. He further urged the public to consider the bill as a down payment as a sustainable amount to cover the present crisis.
On Dec. 27, 2020, the Democratic majority House approves the $2,000 check proposed by President Donald Trump, but the Republican-controlled Senate did not take up the new check into the vote and did not approve it. With this new proposal stalled by the Senate, the previously decided $600 per eligible person is expected to be deposited into the beneficiaries' accounts by the U.S. Treasury until Jan. 15, 2021. The issue of the $2,000 check is expected to be brought up after the new senators are sworn in following the election on Jan. 5, 2021.