Lawmakers included an initial round of $1,200 checks to individuals earning up to $75,000 and $500 for their children in the stimulus package passed in March. The payments phased out for those earning up to $99,000. The Senate hasn’t yet begun serious negotiations on another stimulus bill, but those talks are expected to begin in mid-July.
Trump signed a $2.2 trillion stimulus into law in late March that’s provided payroll support to small businesses, $1,200 direct payments to families and boosted unemployment checks for millions of people out of work. The small business program’s initial $350 billion was later retopped with $310 billion.
The stimulus came after stay-at-home orders and social distancing measures were put in place to slow the spread of the coronavirus. The virus has killed more than 120,000 people in the U.S. and put millions of people out of work.
--With assistance from Laura Litvan and Laura Davison.
This article was provided by Bloomberg News.