Since President Donald Trump signed the Covid relief stimulus bill, there’s been some new head nods from the House for the increase of covid relief benefit from $600 to $2000. Initially House Republicans had blocked an effort by Democrats to advance the checks to $2000, but the bill, which passed in a 275-134 vote; needed the support of two-thirds of House members present, which historically has been a tough fight. It’s now in the hands of the Senate, where uncertainty of the increased stimulus lies.
Senate Minority leader Chuck Schumer D-NY said he would “force the chamber to take up the measure Tuesday” but only one Senator would need to reject in order to keep the bill from passing.
“Following the strong bipartisan vote in the House, tomorrow I will move to pass the legislation in the Senate to quickly deliver Americans with $2000 emergency checks”, Schumer said in a statement on Monday.
He continued, “Every Senate Democrat is for this much-needed increase in emergency financial relief, which can be approved tomorrow if no Republican blocks it-there is no good reason for Senate Republicans to stand in the way”.
The new round of checks are due to start being distributed next week, according to CNN.
“Paying down a credit card debt would be first in for most, maybe looking at your emergency fund. I think we saw how important it was this year to have an emergency fund on hand”, said Brad Allen, financial advisor with Drake & Associates.