Budgeting has become a more precarious question of balancing these days for many Americans. Expenses and income, both sides of the equation, are wrought with uncertainty. What will happen when unemployment benefits run out? Can you keep up with your credit card payments? Will there be other stimulus checks?
There is a chance that another round of cash payment could soon come. House Democrats passed a $3 trillion stimulus bill, accordingly.
This was the HEROES Act. It stated that in May, they would give $1,200 to each American who earned less than $75,000 a year.
The United States President Donald Trump called that legislation “dead on arrival”. Nevertheless, ever since the White House signaled support for more stimulus checks, Mitch McConnel, R-Ky, recently suggested disbursing the funds to people making $40,000 or less a year.
Steven Mnuchin is Treasury Secretary. Last week, he had an interview on CNBC. Mnuchin declined to say whether he supported that income cap or not. Nevertheless, he confirmed that the White House was still in favor of another round of payments. Then, when the details will be finalized, he said that they could get the payments to hard-working Americans’ bank accounts very quickly.
Last week, in the same interview on CNBC, Mnuchin said that another stimulus bill would pass by the end of the month. That date is when the additional $600 federal weekly unemployment checks will expire.
Thus, there is some hope that the additional federal weekly benefit will continue beyond July. The HEROES Act will keep giving $600 until January 2021. Republicans and Democrats can agree on an extra federal interest of a smaller amount, in the end, said Chad Stone. He works at the Center on Budget and Policy Priorities. Stone is the chief economist there.
Stimulus Checks
Nevertheless, without any extension of federal benefits, jobless Americans will receive only their weekly benefit from the state. With a low of $101 in Oklahoma and a high of $531 in Massachusetts, as of April, the average country nationwide stands at around $333 a week.
Workers from most states are typically eligible for state benefits for up to 26 weeks. Nevertheless, in many cases, they will be able to collect the checks for 39 weeks, thanks to the CARES Act.
Rules around eviction currently vary by state, during the pandemic. There even are different protections according to the counties and cities.
Emily A. Benfer is a housing expert. She said that there is no one approach.
Benfer has been documenting and investigating the policies by location. In a free online spreadsheet, you can learn what rules you are subject to. The spreadsheet’s name is ‘Covid-19 Eviction Moratoria by State, Commonwealth, and Territory’.
There is currently no statewide moratorium on evictions in 29 states. Nevertheless, there are local protections that have been issued for tenants in some of those states.
Congress passed the CARES Act stimulus package in March. So, thanks to that, you can not currently be evicted if you are living in a property backed by a federal mortgage or if you are receiving government-assisted housing.
Freddie Mac and Fannie Mae are government-sponsored lenders. Recently, they released tools that help centers investigate their property to learn if it qualifies for the eviction moratorium
