BIGGER CHECKS TO COME YOUR WAY? Americans could get $2,000 a month until economy recovers from coronavirus COVID-19

Americans would receive $2,000 stimulus check each month through COVID-19 crisis under proposed legislation

EMERGENCY MONEY FOR THE PEOPLE ACT

Congressman Tim Ryan, a democrat of Ohio wants to give a monthly cash payments to Americans who have been impacted by the COVID-19 pandemic. Representatives Tim Ryan (D-OH) and Ro Khanna (D-CA) introduced new congressional legislation — the Emergency Money for the People Act — to provide monthly cash payments to eligible Americans until employment returns to pre-COVID-19 levels.

HOW WOULD THIS ONE BE DIFFERENT THAN THE FIRST STIMULUS?

The first stimulus has already been delivered to Americans who are qualified and have direct deposit accounts with the IRS. It will take time to get to others by mail. The second stimulus if passed  will allow individuals to get money through direct deposit, check, pre-paid debit card, or mobile money platforms such as Venmo, Zelle, or Paypal – getting money to the people sooner.

In addition the act would provide more relief and includes a $2,000 monthly payment to every qualifying American over the age of 16 until employment returns to pre-COVID-19 levels. It also corrects a problem in the CARES Act to make sure college students and adults with disabilities can still receive the payments even if claimed as a dependent.
“A one-time, twelve-hundred-dollar check isn’t going to cut it,” said Rep. Ro Khanna. “Americans need sustained cash infusions for the duration of this crisis in order to come out on the other side alive, healthy, and ready to get back to work. Members on both sides of the aisle are finally coming together around the idea of sending money out to people. Rep. Ryan and I are urging leadership to include this bill in the fourth COVID relief package to truly support the American working class.”

“The economic impact of this virus is unprecedented for our country. As millions of Americans file for unemployment week over week, we have to work quickly to patch the dam – and that means putting cash in the hands of hard-working families,” said Congressman Tim Ryan. “Many Ohioans are just receiving – or about to receive – the first cash payment we passed in the CARES Act. Now it’s time for Congress to get to work on the next step to provide relief for those who have been hardest hit in this pandemic.”

WHAT’S THE END GOAL HERE?

The goal would be guaranteeing continuous cash assistance payment for six months or more depending on how long it takes for unemployment to go back to pre COVID-19 level.    

Most importantly, the payments would not count as income, and that should  protect eligibility for any of the income-based state or federal government assistance program recipients. This means you could still apply for other government programs such as food stamps, and the amount would not count as income. This is a win for those who are unemployed, and eligible for other government programs.

WHO WOULD GET THE MONEY?

In order to be eligible for the proposed continuous government stimulus, you must fall in one or more of the group classification whether married with kids, single or make less than $130,000:

• Every American adult age 16 and older making less than $130,000 annually would receive at least $2,000 per month.
• Married couples earning less than $260,000 would receive at least $4,000 per month.
• Qualifying families with children will receive an additional $500 per child – families will receive funds for up to three children.
• For example, a married couple making under $260K with 3 kids would receive $5,500 per month.
• Those who had no earnings were unemployed, or are currently unemployed would also be eligible.
• Those who were not eligible in 2019 or 2018 but would be eligible in 2020, could submit at least two consecutive months of paychecks to verify income eligibility.
• The Emergency Money for the People Act also expands the program to millions more Americans who were excluded from the CARES cash rebates – such as college students and adults with disabilities who are still claimed as a dependent. The individual will receive the payment and their parent or guardian will receive the dependent credit.

Now the question is will it pass?

As noted, the bill was introduced by two Democrats. There are 232 Democrats in the House, a majority who could potentially pass the bill if they can all agree on their stance with the American people.

We were able to locate a copy of the bill, you can find it here:
https://khanna.house.gov/sites/khanna.house.gov/files/Final_Emergency%20Money%20For%20the%20People.pdf