Are $2000 Stimulus Checks on the Way?

stimulus Jan 14, 2021

As President-elect Joe Biden prepares to take office on January 20th, he has outlined several plans for his presidency, including his plans for an expanded stimulus proposal which will provide $2000 stimulus checks. Biden released his full, $1.9 trillion dollar plan this evening, called the American Rescue Plan. Here's what you need to know.

$2,000 Stimulus Checks are a Top Priority

The President-Elect said he will support legislation providing $1,400 additional checks to most Americans, bringing the full second stimulus check disbursement to $2,000.

Biden said Friday that Congress needs to “finish the job” and get people full $2000 checks. “$600 is simply not enough,” he added. With control of the Senate, the chances for Democrats to get $2,000 checks funded is higher.

Biden’s sentiments have been echoed by many other people in Washington, including Senate Majority Leader Chuck Schumer and Senator Bernie Sanders.

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There Are Still Challenges to Passing $2,000 Stimulus Checks

Although chances are much higher that Biden can arrange for $2,000 checks now that Democrats control the Senate following the Georgia runoffs, there may still be hurdles ahead of the President-Elect.

To pass his stimulus bill, Biden would need the support of every Democratic Senator (plus Vice President Kamala Harris), or the support of at least one Republican Senator. Although most Democrats are highly supportive of more stimulus funding, one Democratic senator, Joe Manchin of West Virginia, has said he would prefer a proposal that was more targeted toward lower-income Americans (rather than everyone who earns less than $75,000 receiving the full $2000). He said he would “absolutely not” support $2,000 checks for everyone with incomes below $75,000.

Many lawmakers are also occupied with trying to impeach Trump, which could take efforts away from stimulus legislation.

What Else Will Be in the Stimulus Bill?

$2,000 stimulus checks are just one portion of Biden’s full proposal, which will include funding for a variety of other economic and public health relief measures. Here are some of the things the President-Elect has said the plan will provide for:

Unemployment Expansion: The bill will extend unemployment benefits until the end of September, and increase the current federal unemployment boost to $400 a week.

Aid to Local Governments: One of the major losses for Democrats in the stimulus bill passed by President Trump in late December was regional aid for local governments to fight the pandemic, which Republicans refused to support. Biden has included $350 billion for state and local governments in the bill.

Education Funding: Although the $900 billion stimulus proposal did provide for this, Biden has included another $170 billion for both K-12 schools and colleges.

Vaccine Distribution: As the U.S. vaccine rollout continues at a slower pace than officials hoped, Biden has earmarked an additional $20 billion for a coordinated vaccine plan.

Eviction Moratorium: Biden's proposal would extend the current eviction moratorium until the end of September.

Increased Minimum Wage: The President-Elect's proposal would increase the federal minimum wage to $15 an hour.

-Increasing the Child Tax Credit: The Child Tax Credit is a tax refund for taxpayers with minor children, which Biden plans to increase to $3000 per child, or $3600 for children under 6.

As Biden's inauguration day approaches, we will keep you updated on the latest news. The President-Elect is expected to release a second spending bill in February to tackle some of his longer-term goals, such as infrastructure and clean energy. In the meantime, be sure to download the Skip App in the App Store or Google Play to get push notifications on the latest stimulus news. You can also track your stimulus check, EIDL grant, PPP loan and even vaccine for free with the Skip app.

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