“CASH Act”, the measure passed in the House of Representative on which Biden is inspired for the third stimulus check | The State
File photo of Democratic Rep. Richard Neal, who introduced the “CASH Act” last December.
Photo:
Mark Wilson / Getty Images
President Joe biden He has proposed to negotiate with the leaders of the United States Congress in order to reach an agreement that allows the distribution of new stimulus checks of $ 1,400 dollars.
But before the democrat publicly announced the initiative as part of his “Economic Rescue Plan”, members of that community had already approved the named measure in the House of Representatives. “CASH Act”.
“Caring for Americans with Supplemental Help (CASH) Act of 2020”, presented on December 23, was approved in the House on January 28, but not in the Senate, led by the majority leader at that time, the Republican Mitch McConnell.
The proposed law would amend section 6428A of the 1986 Internal Revenue Code to increase the amount for recovery reimbursement to $ 2,000 per individual.
The measure was presented by the chairman of the Committee on Means and Forms, the Democratic representative Richard E. Neal, after the then president Donald trumpAt the last minute, he asked lawmakers to increase the amount per stimulus check from $ 600 to $ 2,000.
“For months, Democrats have consistently sought to provide Americans with a substantial second round of direct financial assistance. Now that the president has finally endorsed the idea, we are ready to immediately pass the CASH Act to put an additional $ 2,000 in the pockets of those in need. Republicans in Congress must join us in this effort and not prevent this critical relief from reaching families who are suffering, ”reads a statement when the measure was introduced.
The document highlights the following key points about the piece of legislation and we quote:
• Increase the value of the “Economic Impact Payments” (EIPs) provided at the end of the year as part of the COVID relief package so that each eligible family member receives $ 2,000 in addition to the $ 600.
• The same expanded eligibility requirements established in the year-end packet apply to include families with mixed immigration status where one of the spouses has a Social Security number (SSN). As specified in the latest COVID-19 relief legislation, these families are eligible for EIP for each family member with SSN, and can claim the corresponding amounts from the first round of economic impact payments when they file their taxes from the 2020.
CASH Act serves as the foundation for Biden and his team’s idea to provide new direct payments. But, in the event of a third round, the expectation is that new legislation will be created and that already approved in the House will not be resumed.
This makes even more sense considering the fact that some Republicans disagree with the eligibility requirements of the stimulus laws already passed, and, as part of the debate, ask that the next check apply or focus on the groups most in need.
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