Democrats Are Proposing $6,000 Stimulus Payments. Will it Actually Happen?

Millions of Americans have already received an initial $1,200 stimulus payment, and that money is serving as a lifeline for those whose finances have been negatively impacted by COVID-19. But for many households, that $1,200 falls short. Given that the typical U.S. household spends $5,102 a month, according to the U.S. Bureau of Labor Statistics, even a household with two adults and three kids under age 17 is limited to $3,900 in stimulus cash, which falls below the $5,102 mark. A new proposal, however, calls for a much more generous follow-up stimulus payment.

This week, House Democrats presented a new COVID-19 relief bill that includes, among other provisions, a second round of stimulus cash worth up to $6,000 per household. Specifically, that breaks down into $1,200 per adult whose income falls below a certain threshold plus $1,200 per child under the age of 17, up to a maximum of three children per family. And that could be instrumental in helping millions of Americans stay afloat during these turbulent times.

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Source Fool.com