A second round of stimulus payments designed to jump start the U.S. economy amid the coronavirus pandemic is a possibility, according to Treasury Secretary Steven Mnuchin.
“It’s something that we’re very seriously considering,” Mnuchin said, according to a report in The Hill.
Another stimulus package proposal is currently in the House. The $3.5 trillion measure includes another round of stimulus checks, boosting the $500 per-child payments to up to $1,200 each for up to three children.
The current stimulus provides $1,200 for individuals earning up to $75,000 and $2,400 for married couples filing jointly who earn up to $150,000. Single filers who earn more than $99,000 and joint filers who earn more than $198,000 are not eligible.
150 million payments processed
The IRS said it has processed 159 million stimulus payments, totaling $267 billion.
Of those, 120 million were sent by direct deposit, 35 million by check and 4 million paid in the form of a pre-paid debit card. That includes payments sent to those who usually do not have to file a tax return but receive retirement, survivor or disability benefits under various programs.
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