New stimulus check for an extra $1,200. What Monday's proposal really means - CNET

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Could a second stimulus check bring more relief money than the first? Less? The same amount?

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We finally know how much money the Senate has in mind for a second stimulus check as part of its proposal for another economic relief package, called CARES 2: up to $1,200 per person, just like the first stimulus check. 

"There's a $1,200 check coming, that's going to be part of the new package," White House economic advisor Larry Kudlow said Sunday morning on CNN's State of the Union, according to CNBC.

But Senate Republicans haven't made the proposal official, and even after they do, there could still be weeks of fierce negotiation with the Democrat-led House of Representatives before all the details are decided.

For example, even if the upper limit of $1,200 remains the same, there's still a question of who qualifies to receive it, and if there will be more or fewer people getting a direct payment with another round. And there's been a strong desire from President Donald Trump to give Americans even more than a maximum of $1,200 -- the numbers could conceivably shift by the time the final bill is signed.

Here's what we know about the Senate's proposals, and others, and how much money you could potentially get based on your salary. This story updates frequently.

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How much of the $1,200 second stimulus check could you get?

As of Sunday, the total amount you could expect in the mail or in your bank account is unknown. It'll depend on:

• If the $1,200 maximum cap makes it into the final bill. Remember, the Senate's proposal isn't final legislation.
• What the other qualifications are. Will more children be eligible? Will the income cap be the same or lower?
  
• Your specific circumstances. The calculations can be tricky and depend on aspects of your 2019 taxes, like your adjusted gross income and if you filed as single, married or head of household.

Though we don't know for sure if the second stimulus check will follow the rules of the first, this handy calculator from The Washington Post could shed some light on what you might get.

Stimulus check calculations (first check)

	Filed 2019 taxes?	Filing status	2019 tax AGI	Dependents under 17	Calculated check amount
Scenario 1	Yes	Single	$80,00	0	$950
Scenario 2	Yes	Head of household	$140,000	3	$1,325
Scenario 3	No	Married	$130,00	2	$3,400
Scenario 4	No	Married	$130,00	5	$4,900

Even more stimulus check proposals

Before Sunday's news from Kudlow anticipating the $1,200 cap for the second stimulus check, these were the front-runner proposals we heard over the months, and how likely we thought they could be. Of course, another stimulus check isn't a done deal and anything could happen between now and the final bill.

Second stimulus check proposals

Amount	Proposer	Proposal details	How likely?
$0	White House	Payroll tax cut so workers keep more of their paychecks.	Unlikely to replace stimulus check.
$0	White House	Business tax break for companies who don't furlough workers.	Unlikely to replace stimulus check.
Less than $1,200	White House	Smaller checks targeted at low-income Americans.	Possible if the final package is smaller.
$1,200	House of Representatives	Part of the Heroes Act passed by the House in May (not law).	Possible, with fewer people qualifying.
More than $1,200	White House	Stated by President Donald Trump.	Less likely, but possible.
$2,000 a month till economy recovers	More than 150 economists	"Emergency Money" payment for Americans to continue spending, one road to economic recovery.	Open-ended payments unlikely to pass.
$2,000 a month till three months after pandemic ends	Sen. Kamala Harris	Payments through the end of the pandemic and three months after.	Open-ended payments unlikely to pass.
$2,000 a month for up to 12 months	Rep. Ro Khanna	Monthly payments up to a year.	The Senate is unlikely to agree to a sum this large, even with an expiration date.
$4,000 travel tax credit	White House	A temporary tax credit to cover individual and family travel expenses, meant to rev up local economies.	Unlikely to replace stimulus check.

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Is there any chance the second stimulus check could be smaller?

At this point, that's unlikely. Earlier in July, Kudlow had said a second stimulus payment wouldn't be as much as the first, and Senate Majority Leader Mitch McConnell indicated that the next stimulus package would have a $1 trillion cap, which would potentially keep the checks smaller, or at least restrict the total amount going to individuals (meaning, possibly, that fewer people would receive another stimulus payment).

The House of Representatives has already advocated for another $1,200 stimulus check for more people, in its Heroes Act from May 15. 

Here are the broad outlines of the House bill, which isn't law:

• Individuals: An eligible person could receive up to $1,200, the same as the CARES Act.
• Children and dependents: Each dependent could qualify for a $1,200 payment.
• Families: Households would qualify for a maximum payment of $6,000 total, capped at five family members at $1,200 apiece.
• People who aren't US citizens: Noncitizens who file tax returns, pay taxes and otherwise comply with federal tax law using an individual taxpayer identification number instead of a Social Security number would qualify for a payment.

The Senate intends to weigh the benefits of a second check this month.

James Martin/CNET

When will we get more stimulus check news?

After the Senate proposal is announced on Monday, it'll then go before the House for debate. The situation could change daily. Congress has until Aug. 7 to pass another stimulus bill before a month-long recess. Here's more on the timeline, including when the IRS could potentially send the first checks.

If you're still waiting for your first stimulus check, here are 10 possible reasons for a delay and what you can do if you think your payment is lost or has fallen through the cracks.

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