After President Trump’s recent remarks, it looks extremely likely that an additional round of stimulus checks will be sent out to millions of Americans.
While we don’t know for sure, it looks likely that this second round of payments could go out in late August or early September based on when the Senate is expected to have its annual recess and on the timeline it took for the first round of checks to go out.
The big question that we don’t know is how much will these checks be for?
The Trump administration has used words like “dramatic” and “very generous” to describe the next package and all of its contents.
The proposed stimulus checks in the HEROES Act are based roughly on the same income requirements and would send out the same amount of checks to many people of $1,200 per person or $2,400 per couple.
However, there is expanded eligibility that would allow for families to receive more money, perhaps up to $6,000.
So some people would consider the new stimulus checks to be very generous and a pretty dramatic upgrade from the first round.
One thing that is interesting is that a good portion of Americans believe that they should receive more than they received in the first round.
A recent survey to a poll of 1,000 American adults for Jackson Hewitt Tax Service conducted by Dynata asked: “If there is a second stimulus payment, what amount would be necessary?”
24% of respondents stated they would need twice the amount they received while 12% said three times.
41% said the same amount they received in the first round while 24% said that another check is not necessary.
That survey gives you a rough estimate of how the country might be feeling with regards to another check.
Around 1/3 of Americans feel like they need more than they received first round. However, the majority of the country may not be in need of aid in addition to what they received the first go around.
Daniel Gillaspia is the Founder of UponArriving.com and creator of the credit card app, WalletFlo. He is a former attorney turned full-time credit card rewards/travel expert and has earned and redeemed millions of miles to travel the globe. His content has been featured in major publications such as National Geographic, Smithsonian Magazine, Forbes, CNBC, US News, and Business Insider. Find his full bio here.