2nd Stimulus Check Update || $450 EVERY Week Stimulus Pay

2nd Stimulus Check Update || $450 EVERY Week Stimulus Pay

Senator Rob Portman is proposing a back-to-work bonus of $450 a week.

The House of Representatives passed the HEROES Act, a second coronavirus relief bill worth $3 trillion in aid which I go more into detail in this video which I will link below.

The bill, which includes a second round of $1,200 stimulus checks and an extension of the $600-per-week federal unemployment insurance benefit, now moves to the Senate, where Senate Majority Leader Mitch McConnell has voiced strong opposition to the bill, declaring it “dead on arrival.”  

Republicans are aiming to offer an alternative to Democrats’ push to continue the $600 weekly federal unemployment payments, which are in addition to state unemployment benefits.  Some conservatives fear the amount is so high that it might be keeping people from returning to work.

The goal of a second stimulus round is to help keep a fragile US economy from crashing. And the pressure is mounting. Last week, the US Bureau of Labor reported that 38.6 million Americans sought unemployment benefits in the past 10 weeks, and it’s believed to be millions of more that’s not counted.

Portman’s proposal provides $450 a week for individuals returning to work, meaning they’d receive their wages plus this $450 bonus for a limited time … The federal minimum wage is $7.25 an hour, meaning that a minimum-wage worker working 40 hours a week would make roughly $290, then they would add on the $450 bonus bringing their new total to $740 a week.

The White House and other groups are continuing to explore other options however this proposal is favored. This weekly bonus would be paid for a limited time and would be paid in addition to the worker’s wages.  The “back to work bonus” is just one solution policymakers and lawmakers are considering.   

President Trump has mentioned several times that he would like to see a payroll tax holiday that would waive payroll taxes for employees and employers. This would waive some or all of the Social Security and Medicare taxes that are collected when payroll is processed.

Employees and employers both pay the same amounts for payroll taxes.  If Social Security and Medicare taxes aren’t taken out of paychecks, American workers and businesses would have more money to spend with each paycheck and essentially curb a recession. Business owners would also retain more money, which may reduce future lay-offs.

Do you feel that offering a bonus for people going back to work is the right approach?  Comment below.  Be sure to subscribe so you don’t miss another update.

This Post Has 2 Comments

  1. Danny

    Too much money given by unemployment check will keep many at home. If you make more doing nothing why work?

    1. musicteacheratl

      Point well taken. I can’t blame people for not really wanting to return to work because truth be told MANY people are making more right now by being at home.

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