18 minutes | Jul 31st 2020

EP140: Second Stimulus Check Update - How Much You May Be Getting

On Monday, the Senate pushed through the HEALS Act which is expected to be signed into law on August 7th.

What to expect from the HEALS Act:

Stimulus Checks

  • $1,200 for individuals making less than $75k and phasing out at $99k
  • $2,400 for families making less than $150k and phasing out at $198k
  • $500 for dependents 19 and younger OR 24 and younger if they are a student

Unemployment Benefits

  • The $600 weekly benefit (in addition to state benefits) expires on 07/31/2020
  • Decreased amount to $200 per week (in addition to state benefits) through September and then 70% wage increase, up to $500, from October through December 31st.

School Reopening

  • $70 billion to K-12 that open for in-person classes
  • $29 billion for higher education
  • $1 billion for Bureau of Indian Education
  • $5 billion to be used by each state at their discretion

Coronavirus Testing

  • $16 billion

This is only what has been proposed by the Senate on Monday and is expected to pass by August 7th. Talks from both sides of the aisle and President Trump have also mentioned that the package may even offer more than this current proposal.

 

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This episode of the Money Peach Podcast was brought to you by OneAZ Credit Union - the credit union I have personally been a member with since 2011. 

If you live in the state of Arizona and you are looking to get away from the profit-focused big banks - look no further than OneAZ Credit Union. 

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All the show notes, links, and anything mentioned in today's show can be found over at https://www.moneypeach.com/session140

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Would you like to SAVE more money and PAY OFF DEBT faster? 

Great! Please take my free how-to-budget mini course where I will quickly show you how to create a budget that fits your lifestyle and will also give you all of my templates and budget forms to get started.

Head on over to https://www.moneypeach.com/freebudget

 

 

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