Yes, your second stimulus check could be smaller if…


A bipartisan group of lawmakers is set to roll out a proposal for short-term economic relief package this week that skips over a second stimulus check. If the plan is approved, that doesn’t mean another check is coming; it just means you may need to wait a little longer.

“There may be a stimulus check, but that would be part of a different piece of legislation,” Sen. Bill Cassidy, a Republican member of the bipartisan group, said on Fox News Sunday.

If talks on a second direct payment tip into 2021, negotiations will fall to President-elect Joe Biden’s administration. What we know now is that when and if Congress signs off on another cash payment for individuals and families, not everyone will get the entire sum.

 See, that $1,200 is the maximum cap per adult, with more money for those with eligible dependents. But if the stimulus qualifications change in another bill, or if your life circumstances have altered, the amount of money you could see in another check could potentially be smaller.

For now, all we can do is watch and wait. But if another check does get the green light, the first wave of stimulus payments could come quickly. Here’s what you need to know about who could see a smaller direct payment (or none at all) and why. This story was recently updated with new information…Read more>>