UPDATE 6/1/20: HEROES Relief Act

For those of us who are desperately looking for additional relief money, it looks like the Senate is not rushing to pass the HEROES bill. You can follow the bill through the lawmaking path and if you want to take action, to have your voice heard, contact your senator and let them know if you're in need of more relief funding.

UPDATE 5/18/20

Friday, May 15th, the $3 trillion HEROES Relief Act was passed in the House of Representatives. This bill includes another round of $1,200 payments for taxpayers; expanded unemployment insurance coverage; aid for renters and homeowners; and deferment on student loan payments.

Up next, the bill moves from the House of Reps to the Senate for a vote. While there is no guarantee that it will pass and be signed into law in its current form, the good news is that lawmakers are aware that citizens are in need and that more economic support is essential.

What can you do? Email or call your state and federal lawmakers and let them know that you support increased financial aid for individuals during this time. Not sure who your elected officials are? Visit this website to find active phone numbers and email addresses for your representatives. Government officials are supposed to be our voice, but they can’t be if they don’t hear us.

Is there more Coronavirus relief money coming?

To date, the US government has sent out over 122 million "stimulus payments" as part of the CARES Act to Americans. Though many have already received those payments, there are still some pending disbursement. If you think you are eligible, but have not yet received your payment, check here to see if your check has been processed.

Though every little bit helps, many have expressed concern over the ongoing financial stress that the #coronavirus crisis places on individuals and families—and how the $1,200 payments, while helpful, do little to address these long term effects.

Congress has taken notice and introduced bills to address this financial gap. Now that the bills have been introduced, they must be approved by both the House and the Senate, though they don’t require Presidential approval. These are the two bills on the table that have been getting the most attention.

The Emergency Money for the People Act

If passed, this bill would provide a $2,000 monthly payment to every qualifying American over the age of 16 for up to 12 months.

Who would qualify?

• Americans over the age of 16 who earn less than $130,000 a year would receive at least $2,000 a month

• Married couples who earn less than $260,000 a year would receive at least $4,000 a month

• Qualifying families will receive an extra $500 for each child, for up to three children

Those without earnings, or those currently unemployed would also qualify for the stimulus check even if they didn’t file a tax return.

Monthly Economic Crisis Support Act

This proposed bill also recommends a $2000 monthly payment for Americans earning an annual income up to $120K, with increased payments for dependent children and a retroactive payment plan.

The details

• A monthly check of $2,000 would be sent up until three months after the pandemic ends.

• Married couples would receive $4,000 plus there would be a further payment of $2,000 for each child (maximum of three).

• If this bill is passed, the payments would be backdated to March 2020 and would continue for three months after the coronavirus emergency ends. Just as with the CARES Act payments, funds would be disbursed by direct deposit.

The HEROES Act

There are also other proposals that have been put forth, including that would send more than $1 trillion in subsidies to state and local governments. This bill also includes a $200 billion “Heroes Fund” provision that would extend supplementary hazard pay to essential frontline workers. And like earlier “stimulus payments,” it also would send a round of direct payments to individual Americans, up to $6,000 per household.

This bill also includes more than $175 billion in housing assistance and a guarantee that the $600 weekly increase in unemployment insurance would be extended through January. Congress is expected to vote on this Friday, May 15.

When will we know if more Coronavirus money is coming?

Though bills can sometimes take a while to pass, given the current crisis, we may know the outcome sooner rather than later. For example, the Healthcare and Education Reconciliation Act of 2010 (otherwise known as “Obamacare”) was introduced as a bill on March 17 and signed into law on March 30 that same month--so when there is a will, there is a way!

For more information on the bill voting process, and to track the progress of the proposals mentioned above, check here.