The HEALS Acts detail has been revealed. Even Though, negotiations are ongoing at least we now know what is in the Second Stimulus Act AKA HEALS Act.If everything goes well, the goal is to stimulate and restart the economy. But also protect Americans.
Certainly, Democrats,Republicans and of course the White House have to come together. Nevertheless, here is what we have:
The payments are $1,200 per adult for those with adjusted gross incomes of up to $75,000. However, the threshold for married couples is $150,000.Consequently,they are eligible for $2,400 and $500 per dependent.
What is the difference between the CARES Act?
- While the CARES Act only allowed the additional $500 to be allocated for families with dependent children, now households will be able to claim the additional $500 for dependents of any age. In order to receive the benefit, an individual must have a work-eligible Social Security number and he or she cannot be the dependent of another taxpayer.
- Republicans want to reduce the unemployment benefits from $600 to $200 a week, saying that the federal bump is too generous on top of state benefits and is discouraging employees from returning to work. Progressively, transforms into a new system that ensures no more than 70% of an employee’s previous pay. States could request an additional two months, if needed, to make the transition.
To watch the complete speech Senate Majority Leader, Mitch McConnell
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