- While we’re still waiting on a new coronavirus stimulus check update, since no legislation has finished making its way through both houses of Congress, we can make a few guesses at this point at how Americans might be impacted by a new bill.
- The House of Representatives, for example, passed its new HEROES Act coronavirus stimulus bill last month.
- Here’s a calculator you can use to determine how much money you’d get under this coronavirus relief legislation.
There’s no new coronavirus stimulus check update to report yet, since congressional lawmakers still haven’t coalesced around the finer points of what new legislation should even look like — not to mention the fact that enough of those legislators still haven’t agreed on whether we even need a new round of stimulus checks at all.
Nevertheless, some of them have. The House of Representatives, controlled by Democrats, passed a new coronavirus stimulus bill last month, and even though the Republican-controlled Senate basically laughed when this new bill landed on its doorstep, it’s the closest thing we have right now in terms of a new package to consider. Recall that, as part of the first coronavirus relief legislation Congress passed back in March, most Americans ended up getting as much as $1,200 for individuals or $2,400 for married couples, with an additional $500 for each eligible child. So how much might you be eligible for under this new plan?
Use this calculator to find out what you could get thanks to the HEROES Act, assuming it passed in its current form.
As the web page that includes that calculator notes, the $3 trillion relief package was passed along party lines in the House, in a 208-199 vote. On May 29, Senate leaders said they needed “about a month” to gather their thoughts regarding this new bill, which the calculator shows could result in a payout as follows:
An example family with two kids and two married parents who file their taxes jointly (and who have an adjusted gross income of $110,000) could get a new stimulus check of $4,800 under this new coronavirus stimulus act, according to the calculator. Similarly, another hypothetical recipient — this time, a single taxpayer with an AGI of $90,000 and zero dependent children, would earn a check for $450.
The entity behind that calculator is a Polish startup called Omni Calculator that offers hundreds of custom-built calculators (focused on things like the coronavirus stimulus, among other topics).
There’s always a chance Congress and the White House will come together and produce some movement on the HEROES Act or some similar new coronavirus stimulus package. That’s because this comes against the backdrop of a crisis that is not yet slowing down. The latest numbers from Johns Hopkins University, for example, show that almost 2 million infections in the US have now been identified. Moreover, and more germane to the idea of stimulus legislation, tens of millions of Americans are newly unemployed thanks to economic fallout from the COVID-19 virus.