Second Stimulus Check: Joe Biden Wins Election, Here's How Much Money You Could Get
Stimulus Check

Biden's plan would include another Economic Impact Payment, or stimulus check, sent directly to eligible American taxpayers. According to a report by CNET, Biden appears to favor the same $1,200 check included in the CARES Act, and in other, more recent proposals. It is not clear if he supports the eligibility guidelines proposed in Democrats' HEROES Act, in Republicans' HEALS Act, or a different structure.
Either way, none of the proposals have varied much on the stimulus check itself. As president, Biden would only have a role in signing the bill into law, not into making any major overhauls to it.
prevnextUnemployment

Surprisingly, Biden's plan does not address the issue of unemployment, although that has been one of the most important issues to Democrats in Congress. However, Biden is unlikely to rely on executive orders like the one Trump used in August, diverting FEMA emergency relief funds to temporary unemployment checks. It is not clear which side Biden would support in the issue of unemployment enhancements.
prevnextSocial Security

Unlike the CARES Act and more recent stimulus proposals, Biden's plan reportedly includes a boost to social security. He would add $200 per month to Social Security recipients as an emergency measure to help them through the coronavirus pandemic. Whether either side would object to this program is unclear.
prevnextStudent Loan Forgiveness

Biden's plan would extend the forbearance on federal student loans, but it does not address the idea of forgiving those loans altogether. The CARES Act suspended federal student loan payments when the pandemic first hit, and Trump eventually extended that forbearance until the end of 2020. Biden's plan would reportedly extend it even further, until at least September of 2021.
prevnextOther Programs

Other programs in Biden's plan include more emergency money for small businesses, emergency sick leave for all workers, new coronavirus prevention funding for state governments and widespread coverage for COVID-19 testing, treatment, and eventually a vaccine, when it is ready.
prevnextThe Wait

Biden's plan is not fully fleshed out, but the real problem with it is the wait before it could be enacted. Assuming the projections that Biden has won the election are correct, he will not be able to start taking action until Jan. 21, 2021, and the situation with the pandemic and the economy could change greatly before then. Biden's plan may be sparse so that it can remain flexible for that situation.
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