As of late, there has been much discussion surrounding a possible second stimulus package. While House Democrats previously passed the HEROES Act (The bill will now go through additional rounds of legislation before it can be passed.), a new proposal from four members of the Senate could provide more money to Americans who are dealing with the coronavirus pandemic. However, there are specific conditions with this new plan that Americans should be aware of.
According to the Motley Fool, a bipartisan group of Senators, Cory Booker (a Democrat from New Jersey), Amy Klobuchar (a Democrat from Minnesota), Ben Sasse (a Republican from Nebraska), and Tim Scott (a Republican from South Carolina), has come up with a proposal that could grant eligible Americans up to $4,000. Although, this plan, which is called the Skills Renewal Act, wouldn’t necessarily act in the same way that the CARES Act did (the $2 trillion package that the White House and Congress agreed to in late March). The Skills Renewal Act would create a tax credit that would cover the costs of training for specific jobs that will be in high-demand soon. The Motley Fool reported that workers who lost their jobs in 2020 would be eligible to receive it and would have through the end of 2021 to get the associated training. The $4,000 amount, as specified in this proposal, would be fully refundable.
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There are a variety of programs that would be eligible under this plan. Individuals could engage in traditional degree programs, certificates, apprenticeships, and other work arrangements. Additionally, remote learning would be included in this act and would be available to the many Americans who are quarantining amidst the coronavirus pandemic. Since this act has only recently been proposed, there’s no telling whether or not it will pass as it has not yet made its way through the traditional rounds of legislation.
This act would be much different from the stimulus package that Democrats passed in the House of Representatives recently. The HEROES Act would grant eligible Americans $1,200 per family member and up to $6,000 per household. Under the Democrats’ new proposal, those who claim children as dependents could receive $1,200 per child for up to three children. It’s unclear whether or not the bill will be able to garner the necessary support from those in the Senate, as numerous Republican lawmakers have already voiced their disapproval for the proposal.
