Congress working to compromise on second stimulus bill that includes $1,200 checks in August

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Posted at 7:08 AM, Jul 29, 2020
and last updated 2020-07-29 07:12:37-04

Republicans and Democrats in Congress are trying to come to a compromise for a second stimulus bill.

The hope is to give families another boost financially and grow the economy.

Just like the first stimulus package, those making under $75,000 dollars a year could see another $1,200, or $2,400 for those filing jointly, with an extra $500 dollars per dependent if claimed.

News 3 spoke with a business and financial analyst Dominick Miserandino, who says we can't consider this as free money. Officials say the money should be considered as income - suggesting people use the money to pay bills and buy the things they need.

Some lawmakers are also pushing to replenish the Paycheck Protection Program, which looks to help businesses keep their employees on their payrolls. Other lawmakers are looking to provide roughly $106 billion dollars to schools.

"Schools all need the funds to adjust and learn how to do online teaching and online learning. I really give teachers a lot of credit. It's a very tough profession," stated Miserandino.

If a bill passes soon, it is projected checks could go out sometime in August.