Trump Administration Says More Stimulus Checks Are In The Works — But Maybe For Fewer People
The tax stimulus checks that went out earlier this year were intended to offset income loss and expense incurred due to the COVID-19 pandemic. A payment of up to $1200 per person was a significant help for many struggling families, but many people — even some below the poverty line — found themselves ineligible. Now, the Trump Administration says it’s working with the U.S. Senate to plan the next round of stimulus payments before the end of July — but more people may be left out this time.
Treasury Secretary Steven Mnuchin said Thursday that another round of stimulus payments is in the works, according to the Wall Street Journal. He said that the Trump administration is working with the U.S. Senate and hopes to finalize a bill by the end of July. It would include another round of payments to families and individuals, as well as more forgivable loans for small businesses, and would extend the current increase in unemployment payments.
Mnuchin said he’d already spoken with Senate Majority Leader Mitch McConnell, and that a bipartisan funding bill would be a priority between the 20th of July and the end of the month.
However, it’s not clear that funding would reach everyone. As Vox reported back in April, the first round of stimulus checks excluded many young adults. $500 was allotted for dependents aged 16 or under, which left anyone between the ages of 17 and 24 who is still claimed as a dependent by their parents out in the cold — no $1200 as an adult, no $500 as a dependent. This especially hit hard for some college students, suddenly unable to stay in their dorms due to the pandemic, but the decision to cut 17-year-old minor children out of the $500 payment for the care of dependent children was especially perplexing.
Now, according to the Washington Post, Republicans are discussing setting more severe income limits that could further cut the number of recipients. While the previous round of checks began to taper and cut off at the $75k income level, McConnell has suggested that a $40k limit might be more in line for the next round. However, this may depend on logistics — one person familiar with the discussions told the Washington Post that there are administrative challenges in narrowing the payments.