What we know about the next round of stimulus checks
Fewer Americans may receive a second check
(KYMA, KECY)-As coronavirus cases continue to rise, the case to issue another round of stimulus checks appears to be growing stronger.
On Monday, Senate Majority Leader Mitch McConnell says the stimulus checks could be distributed to people earning less than $40,000.
McConnell did not expand on the $40,000 figure, and it is unclear whether it would be double for married couples filing jointly.
In May, House Democrats received payments of $1,200 for each adult with adjusted gross incomes of up to $75,000 and couples earning up to $150,000 per year. The amount was then reduced incrementally for incomes up to $99,000 for individuals and $198,000 for couples, above which it was completely phased out.
On June 22, President Donald Trump said, "We will be doing another stimulus package, it will be very good, very generous." However, Trump did not give details on what the second round of stimulus checks would look like.
CNBC News says the new threshold would dramatically reduce the number of Americans eligible for the checks. That would help the GOP keep the new spending package to about $1 trillion.
Congress is poised to consider the issue when it returns later this month. At that time, it will also consider whether or not to continue giving unemployed Americans an additional $600 per week in unemployment benefits.
