Stimulus Check package: On Monday senate Republican proposed HEALS(Health, Economic Assistance, Liability Protection, and Students) Act. This act is proposed by the Senate Majority Leader Mitch McConnell. In the media briefing, Mitch McConnell outlined the plan of Republican of $1 trillion Stimulus Check package to be distributed among most of the American taxpayers.
The HEALS Act is under the proposal which can take time to be turned into the Law. It may take days or weeks as the senators will start the debate on the Act for days and weeks.
The HEALS Act is a followup of the CARES act and It needs the approval to be implemented. Everyone eligible for the 1st round will be eligible for the second round as well. This Act will provide a maximum of $1,200 to the Americans not more in the initial phase but it may be changed if there may be any changes in the Act.
While the proposed $1 trillion plan could include another round of $1,200 checks, it will NOT renew the $600 weekly checks https://t.co/9ddxjtHRZB
— ABC7 Eyewitness News (@ABC7) July 27, 2020
A Republican Senator Chuck Grassley from Iowa said on Monday,
“We are going to continue the economic impact payments that were made in April and May”.
This Package will cover
Eligible American will get:
- 1,200$ for individual
- 2,400$ for married
- 500$ for students and dependent
- 1,200$ if you are earning less than $75,000 individual or 150,000 married
Relief In Student Loan
According to Mitch McConnell, this Act tries to cover the people who were neglected in the 1st stimulus check. While saying that he covered that we are going to assist the dependents and the students through this stimulus checks.
However, he did not mention that they would continue the CARES Act for student loan relief which includes all federal student loan borrowers. Democrats were not happy with this part as they wanted to extend the Cares Act for all federal student.
$105 billion for schools
Republicans senators suggested $105 Billion open the schools. They said they are expected to open the schools as cutting 50% of the time. Senator Alexander said that they are going to fund almost 135000 public and private sector schools in their reopening. He said that they are trying to help the schools as much as they can.
Liability and Payroll Protection Program
Senator John Cornyn discussed that liability protection is one of the major components of the HEALS Act. Mitch McConnell explained that and said hospitals, schools, and businesses should receive five years of liability protections.
Senator Susan Collins said that a small business with up to 300 or less are eligible to get a second forgivable payroll protection program loan if their revenue had declined 50% due to coronavirus.
The second phase of the stimulus check will be delivered as soon as after the approval of the HEALS Act which would take some time expected by many of the experts. People of America are struggling very hard and it will act as a meditation for many of them. People are very much excited for the second face and demanding for the quick implementations.
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