The CARES Act was introduced in March to help soften the economic blow to Americans after lockdowns were implemented across the country to help stem the spread of coronavirus. But as the economic fallout from the pandemic worsens, some are calling for a second round of stimulus checks.
According to CBS News, there could be another round of financial relief, but it faces hurdles.
"The proposed $3 trillion Health and Economic Recovery Omnibus Emergency Solutions, or HEROES, Act would authorize another round of stimulus payments for most U.S. households," CBS News reports. "While the bill was passed by the Democrat-controlled House last month, it still must get through the Republican-controlled Senate."
The HEROES Act offers a bigger payment than the Coronavirus Aid, Relief and Economic Security Act. This time around, each member of a household, including children would receive $1,200. "The income thresholds would remain the same, meaning that single taxpayers earning less than $75,000 and married taxpayers earning a total of $150,000 would receive the full payments. For instance, a family of four whose parents earn less than $150,000 would receive $4,800," CBS News reports.
Each family would be capped at $6,000 under the HEROES Act.
Read the full report over at CBS News.
