Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers.
Some very interesting news came out of the White House yesterday regarding the next round of stimulus checks.
When conducting an interview with a Texas TV station at Midland International Air and Space Port, President Trump was asked about the next round of stimulus checks going out.
When talking about the amounts that would be going out he mentioned that we might see the stimulus check amounts go up.
“We’re going to see it may go higher than that, actually,” Trump said, according to KMID-TV.
“I’d like to see it be very high because I love the people, I want the people to get it, you know, the economy is going to come back,” Trump stated.
“We saved millions of lives but now we’re bringing (the economy) back … we gotta take care of the people in the meantime.”
How much higher could these payments be? I don’t think anybody really has any idea.
With some of the talk about targeting those in lower income brackets, could it be possible that those on the lower side of annual income could receive more than $1,200?
That would certainly seem to be in line with what Republican senators have discussed.
I’m not sure that I would get my hopes up that the stimulus checks will be increased based largely on the fact that the Democrats proposed the $1,200 amount for individuals making up to $75,000 a year.
If the amount is to increase that would mean that the Democrats would essentially have to backtrack on their initial HEROES Act proposal.
So while I guess that is technically possible it just seems unlikely.
But it is interesting that at this late stage of negotiations the president has even mentioned the possibility of sending out a higher amount of direct payments.
The Senate is scheduled to be in session until August 7 at which time they will be breaking for one month.
It is possible that they could extend their session if they were not able to work anything out but both sources indicate that an agreement is expected to be reached before then.
In fact, today is one of the unofficial deadlines that has been tossed around for reaching an agreement so we might hear breaking news later on today.
UponArriving has partnered with CardRatings for our coverage of credit card products. UponArriving and CardRatings may receive a commission from card issuers. Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.
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. Since 2014, 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.