Second Stimulus Checks: Nancy Pelosi's Proposal Includes Payments of up to $6,000 for Some Households

House Majority Leader Nancy Pelosi proposed a new coronavirus relief bill on Tuesday, complete [...]

House Majority Leader Nancy Pelosi proposed a new coronavirus relief bill on Tuesday, complete with another stimulus check for the American people. The proposal calls for a second round of economic impact payments worth up to $1,200 each and up to $6,000 for some families. The bill, which will be voted in on Friday, is called the "Health and Economic Recovery Omnibus Emergency Solutions Act" — or the HEROES Act — and would essentially provide funding for a wide range of groups, including hazard pay, coronavirus testing, rent and mortgage assistance and an extension of the $600 weekly unemployment expansion. However, the bill would still need to pass through several rounds of legislation to be put into effect.

According to a report by CNBC, the HEROES Act is meant to provide "more substantial economic impact payments" for the American people. This time around, every American would be eligible for up to $1,200 — including minors — with a maximum of $6,000 per househould. In the first round of payments authorized by the CARES Act, taxpayers got $500 for any dependents under the age of 17, but Pelosi wants to raise that threshold this time around. The news comes as many Americans are still awaiting their first stimulus check.

In many ways, Pelosi's new Heroes Act offers Americans more than the CARES Act did, but it still offers less than some competing bills in the U.S. Congress. A handful of other bills put forth in recent weeks advocated for monthly payments to the American people throughout the coronavirus pandemic, worth as much as $2,000 each. Pelosi's bill includes another one-time payment, but it does fix some of the gaps left by the CARES Act.

Under the Heroes Act, dependents over the age of 17 would not be left out as they were in the last round of stimulus checks. It would also have more specific language to ensure immigrants got relief checks this time around. In the second round of drafting, it was altered to ensure that those receiving Social Security, Supplemental Security Income and Veterans Affairs benefits will get their payments automatically.

The Center on Budget and Policy Priorities' director of federal tax policy, Chuck Marr, told CNBC: "They fixed the first two holes, which is good. The second round is more generous,and for the most part it's simpler."

Marr said that when Americans get these checks depends entirely on how long it takes politicians to agree on terms of another sitmulus bill, which will need approval from a Republican majority in the United States Senate. However, he pointed out that the disbursement of this money would likely go much faster than the last round, since the IRS already has payment information on file for eligible Americans.

For updates on your stimulus check, visit the IRS' Get My Payment website. For the latest on the coronavirus pandemic, visit the websites of the CDC and the World Health Organization. Keep it locked to for the latest updates in the realm of coronavirus related news, updates and how to protect yourself amid the ongoing pandemic.