A second round of $1,200 coronavirus stimulus checks could be coming.
The new legislation does seek to repair a number of issues with the first round of checks. Immigrants and dependents ages 17 and over were left out of those initial payments. This bill would entitle them to receive those checks."They fixed the first two holes, which is good," said Chuck Marr, director of federal tax policy at the Center on Budget and Policy Priorities.
In addition, the proposal makes it clear that payments must be delivered automatically to individuals receiving government benefits, including Social Security, Supplemental Security Income and veterans. The first round of legislation did not specifically include that language, and automatic payments to those beneficiaries was added retroactively.The timing of how quickly additional money could get into Americans' hands will depend on how long political negotiations take, as well as how long it takes the IRS to deploy the money, according to Marr.
The good news is that a second round of payments could be easier for the IRS to get out now that they know where to deposit the money, Marr said. Garrett Watson, senior policy analyst at the Tax Foundation, said he is optimistic the deployment of a second round of checks would be smoother, particularly now that the IRS has data on nonfilers.Politicians on the center-right will likely argue that extended unemployment is effectively doing a lot of the work, Watson said. Meanwhile, Democrats may claim that those benefits aren't reaching everyone who truly needs the help.
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