Are second stimulus checks on the way?

Source: Maksim Chernyshev / EyeEm / Getty

Congress has finally passed a second stimulus bill to try to help boost the American economy and help millions of people. After eight months of back and forth arguments on how this bill should be formed, the second round of funds are set to help give a boost to unemployment insurance, and more small business aid.

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This plan will distribute $900 billion dollars in funds and will go before the House for approval on Monday, December 21st. So what does that mean for you? If you’re unemployed you can look to receive an additional $300 a week helping roughly 12million Americans.

Something that is different from the first stimulus bill is that American’s will not be receiving a $1,200 check. This time, American’s making under $75,000 will be receiving a $600 check. Couples who make under $150,000 will receive a $1,200 check. Parents will receive an additional $600 payment per child. Incremental reductions are set in place to reduce payments for individuals who more than the set income much like the first round of payments.

$284 billion is set to be available for small-business aid, $25 billion is allocated for the rental assistance program, $13 billion is dedicated to food assistance programs, and federal student loans will remain differed until April 2021.

So how long until you can get help? If everything goes smoothly Americans will start to roll out around mid-January 2021.

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