Following the Nov. 3 election, the attention has turned back to Congress potentially enacting another stimulus package. For the past several months, Americans have been wondering whether additional aid, including another round of $1,200 checks, is on the way. If Congress is able to come together on a package before the end of the year, could those stimulus checks be worth even more than $1,200? While another round of stimulus checks will likely be included in the next package, it’s unclear how much those checks will be worth.
According to CNET, it’s entirely possible that the next round of stimulus checks could be more than $1,200. A second stimulus package will reportedly follow the guidelines set by the CARES Act, the $2 trillion stimulus package that the White House and Congress agreed to back in March that provided eligible Americans with a one-time $1,200 check. The exact amount that you could receive from the next package would depend on your adjusted gross income (AGI) or other eligibility requirements. CNET noted that there are several different scenarios in which Americans can receive more than $1,200.
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The Democratic proposal for the next stimulus package expanded the definition of “dependent” to include anyone whom you claim on your tax returns. If incorporated into another package, this factor could help provide some Americans receive additional funds based on the number of dependents that they have (Americans received an additional $500 per dependent from the CARES Act). Additionally, a recent White House proposal noted that they could potentially double the payout for dependents to $1,000. CNET noted that other factors that could affect the amount you receive from the next stimulus package tie back to your employment status, marital status, if you now share custody of a child, and whether a rule change would provide stimulus checks to some incarcerated individuals becomes permanent.
Democrats have also proposed that undocumented United States residents should also receive a stimulus check if they pay taxes. That proposal came under the HEROES Act, a proposal passed in the House of Representatives, led by Speaker of the House Nancy Pelosi, in May. The package has made no further headway in Congress. While there are a number of ways in which Americans could receive additional funds, it should be noted that you may not receive any payments until 2021. According to CBS News, analysts have said that families should prepare to wait until 2021 to receive another round of stimulus checks.
