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On Monday Senate Majority Leader Mitch McConnell outlined Republicans plans for another stimulus bill, which would send most Americans another $1,200 stimulus check.
Though that $1,200 number may ring a bell from the last time around, there are some important tweaks, including when it comes to dependents.
The stimulus checks themselves are actually one of the least controversial parts of an overall package. Both parties support another round of stimulus checks. The more contentious issues include extending the $600 unemployment checks, state and local government funding, and providing immunity to businesses from COVID-19 related lawsuits.
Senate Republicans hope to get the bill signed in the coming weeks, and have said the stimulus checks could come as early as August.
What’s in the Republicans proposal? Here’s what we do and don’t know so far.
- Will there be an income limit for the second stimulus check?
- Will dependents get a second stimulus check?
- Will you get a stimulus check if you’re married to a foreign national?
- Do you need a Social Security number (SSN)?
- When would I get my second stimulus check?
- What if you still haven’t filed taxes for 2019?
- Will non taxpayers and retirees get their checks late again?
Will there be an income limit for the second stimulus check?
The Republicans proposal for second stimulus check is nearly identical to the first stimulus. It would send a stimulus check worth as much as $1,200 for individuals or $2,400 for married couples, plus $500 for each qualifying child. That amount would decrease for adjusted gross income above $75,000 per individual or $150,000 per qualified couple. And the checks phase out for individuals earning above $99,000, head of household filers with one child above $146,500, and joint filers with no children at $198,000.
The GOP plan also explicitly bars any individual in prison from receiving a stimulus check.
Will dependents get a second stimulus check?
Young adults who are claimed as dependents on their parents taxes did not receive a stimulus check the first time around. However, McConnell said Monday his plan would provide “more support” for adult dependents. His party is proposing to provide $500 per dependent regardless of age (it was capped age 17 in the first round of stimulus checks).
Democrats also support sending stimulus money for dependents. The HEROES Act passed in May by House Democrats would have provided $1,200 stimulus checks for dependents.
The latest: Round 2 stimulus checks are likely coming for college age dependents—but there’s a catch
Will you get a stimulus check if you’re married to a foreign national?
The first stimulus check didn’t go to Americans who file taxes jointly and are married to a foreign national who isn’t a citizen. But some representatives in both parties are pushing to change that.
“No American should be denied a federal stimulus check because they are married to a foreign national who is not a U.S. citizen,” wrote Senators Thom Tillis (R-NC) and Marco Rubio (R-FL) in a statement Saturday.
It’s unclear where McConnell stands on the issue.
Do you need a Social Security number (SSN)?
The HEROES Act passed in May by House Democrats, which died in the Senate, would’ve sent payments to tax filers with a valid tax ID number, instead of based on Social Security number—seeing as the latter excludes many noncitizens and people in the country on Permanent Resident Cards. This is not something Republicans are proposing to change.
When would I get my second stimulus check?
It will likely take a few weeks after President Donald Trump’ signs the final bill for the checks to go out. Republican leaders hope to reach a deal in the coming weeks, and get checks out in August. However, given the Republican infighting and disputes between the House and Senate, that may be overly optimistic.
Read: 4 ways the Senate GOP’s new coronavirus stimulus bill ‘falls short,’ according to critics
What if you still haven’t filed taxes for 2019?
For the first round of checks the IRS used 2018 tax returns for Americans who hadn’t filed their 2019. It’s likely this will still be the case, given that many taxpayers have opted for October extensions.
Will non taxpayers and retirees get their checks late again?
Americans who are not required to file a tax return, including many retirees living on Social Security Income, received their payments later during the first round of stimulus payments. The IRS delayed their checks as it waited for them to verify if they had any qualifying children.
Given that information was already confirmed in the last round, it is possible that delay wouldn’t occur again. However, such guidance will not be released until—or unless—a bill passes.
More must-read finance coverage from Fortune:
- Republican plan for $200 weekly unemployment extension would mean a benefit cut for 30 million Americans
- How the U.S. economy is doing in 8 charts
- Why is there a coin shortage in the U.S.?
- Subprime lending giant CardWorks offers a glimpse into consumers’ wallets—and some surprising clues about the economy
- 4 ways businesses can adapt to a changing supply-chain environment
- Howard Hughes CEO Paul Layne on why suburban real estate will thrive in a post-COVID world
- How one toy store owner used his PPP loan to pivot online—and saw sales soar
