The second stimulus check is about to pass. Here is the group of people who could receive the aid before the rest of the beneficiaries.
Last March, the U.S. government passed the CARES Act, the largest economic rescue in the country’s history, to address the labor and economic crisis unleashed by the coronavirus outbreak. However, five months after the legislation, the benefits belonging to the economic package have already come to an end.
That’s why Democrats and Republicans are working on negotiations for a new economic rescue that is expected to bring a second stimulus check, as announced by U.S. Treasury Secretary Steven Mnuchin: “The President wants us to do more. He wants us to provide money for children and jobs, and a second round of the paycheck protection program, as well as direct payments (stimulus checks) are a clear part of that.
Congress (Senate and House) is currently in recess, and both parties are focused on the conventions that officially mark the start of the election campaigns for the upcoming November presidential election, so sessions to negotiate the new bailout have been postponed until September.
Second Stimulus Check: Which Group of People Will Receive Aid Earlier?
If the negotiations are successful and an agreement is reached in the first two weeks of September, then the citizens of the United States would be receiving the second stimulus payment at the end of September and beginning of October.
Based on the distribution of the first check, the recipients who would receive the aid first would be those who have registered for direct deposit through the 2019 or 2018 tax return. Social Security beneficiaries, whose direct deposit information is on file with the federal agencies, would then follow, and paper checks would be sent to those with no banking information available.
It is also estimated that citizens who were benefited by EIP cards would receive the fastest payment, since the Internal Revenue Service (IRS) already has the information necessary to issue the payment through direct deposit.