This calculator is based on the HEROES Act, which is a proposed second round of stimulus checks. It was passed by The House of Representatives on May 16, 2020.

On May 29, the Senate Majority Leader Mitch McConnell informed that the Senate needs "about a month" to reach the final decision.
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💡 Are you unemployed, a frontline worker, or a student? If this bill passes, you will be eligible for additional payments!

Second Stimulus Check Calculator - HEROES Act

By Mateusz Tkaczyk and Jasmine J Mah

The new HEROES Act (Health and Economic Recovery Omnibus Emergency Solutions Act) payment may become an extension of the previous stimulus payment. This support is extended to all household members, so, thanks to that, those with children will receive more money than in the previous stimulus payment.

The 3 trillion relief package which was proposed by the Democrats and approved by the House of Representatives 208-199, mainly along party lines, is not yet law. On May 29th, the Senate informed they need "about a month" to decide for or against the new bill. The relief package still has the potential of being vetoed as President Donald Trump said the HEROES Act was "dead on arrival".

According to Forbes, the money proposed in the bill will be split up as follows: $200 billion may be sent to essential workers who are battling the pandemic, $1 trillion to state, local and tribal governments to aid with reduced revenue, $175 billion to housing assistance, and $75 billion for coronavirus testing. The rest of the money will go towards the stimulus checks and unemployment benefits.

You may wonder if you are eligible for this proposed bill, so don't hesitate: go through the sections below to find out if you are, as well as how our calculator works out how much money you may potentially receive from the bill.

How might the Heroes Act work?

The HEROES act would send out a one-time stimulus check. Although it is also a one-time payment and not monthly, it proposes increases to unemployment insurance until January 2021, relief to low-income renters and homeowners, helps with student loans, and potential increases for frontline workers.

The total amount of money in the second stimulus check would be the same as the first one; the main difference is that the amount of money received per child would be much higher than before. Also, you will be able to claim children 17 years and older as dependents.

It may provide up to $1,200 for all eligible members of a household, including children, up to a maximum of $6,000 in payments for a family. This would assist in covering their household budget. For example, individuals would receive $1,200, married joint filers would receive $2,400, and children (up to three) could receive $1,200 each, with the family maximum being $6,000.

The additional constraints are similar to those in the first stimulus. This means you have to meet certain income requirements, and be in one of the proposed target groups, to become eligible for the HEROES Act.

Am I eligible for the HEROES Act?

Just as with the first $1,200 stimulus check, eligibility is based on income. The income limits for the second check are the same as they were in the first one - you have to earn $75,000 or less per year to receive the full payment, and married couples need to make $150,000 or less per year between them to get the full payment.

If you earn above these values, the money you will receive will decrease, before eventually dropping to zero. This stimulus package is meant to help a few target groups, listed below:

  1. Hazard Pay for frontline workers - employers will be able to apply for a $13 per hour premium on top of the employee's normal salary, up to $10,000 per worker and $5,000 for high paid workers (that is, those who make over $200,000 a year).

  2. Unemployment Benefits - the boost in unemployment insurance will be extended up until January 2021, to help people who have lost their jobs. You can count on $600 a week. This benefit is especially important, as - according to Kevin Hassett, the senior economic adviser to President Donald Trump - the unemployment rate can reach 20% by June.

  3. Forgiveness of student loans - the Act will extend the support for private loan borrowers. It would provide up to $10,000 in debt relief on a private student loan, finishing in September 2021.

  4. Low income earners - low income renters will receive $100 billion, while low income homeowners will receive $75 billion.

  5. Stimulus check up to $1,200 for every member of the household, up to $6k per household, based on the income.

Is the new bill just about the stimulus check?

The bill proposed by the Democrats outlines a lot of potential changes aiming to combat the impact of COVID-19. Although a lot of them are about relief packages and strengthening the existing assistance programs, some touch upon other areas, including fake news and disinformation. For instance, the bill mentions "potential strategies to mitigate the dissemination and negative impacts of COVID–19 disinformation, including specifically, the dissemination of disinformation on social media, including through improved disclosures".

Some of the existing programs which could potentially receive additional funds are:

  • The Rental Assistance Program - additional $309,000,000 available

  • Child Nutrition Programs - additional $3,000,000,000 available

  • Special Supplemental Nutrition Program for Women, Infants, and Children - additional $1,100,000,000 available.

One of the most common critiques of the HEROES Act is that it includes additional funding for organizations not directly connected with the COVID-19 pandemic - for example, for USPS (the United States Postal Service). Please remember that the stimulus payment is only one of many measures outlined in the HEROES Act! If you're interested in other changes proposed in the bill, make sure to take a look at the actual legislation.

Mateusz Tkaczyk and Jasmine J Mah

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Second Stimulus Check Calculator - HEROES Act