Are we getting another stimulus check in 2021?
What's the deal with a second stimulus check?
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Remember the $1,200 stimulus check that qualified Americans received months ago? Feels like it may have happened a million years ago. Well, it turns out that there is massive bipartisan support for another round of stimulus payments. According to a Gallup poll, 70% of Americans support the government sending an additional economic impact payment (EIP) to all qualified adults.
February 2021 update: has a deal been reached?
The stimulus saga continues as President Biden lobbies for a COVID-19 relief plan that would cost nearly $2 trillion to roll out.
While the President is confident that he might be able to earn the support of some Republican leaders, there has been significant pushback from the GOP so far due to the price tag of the package.
So how much will I get?
President Biden's plans for a $1.9 trillion stimulus plan would potentially add an additional $1,400 onto the most recent stimulus disbursement.
The new plan would also extend the eviction moratorium to September, add $100 per week to to unemployment benefits and expand those benefits through September instead of letting them lapse in March.
[screenshot courtesy of Rakuten]
When will I get it?
The speculation is that Congress could potentially pass a bill to distribute the $1,400 checks in March, which would potentially mean that checks could go out in April if the bill passes.
What else is in the deal?
Details are still emerging by the hour regarding what the new stimulus package entails, but we do know that we can expect support for struggling small businesses to the tune of about $300 billion.
Here are a few other highlights from the new deal:
- $10 billion to assist Americans in need of child care
- $25 billion for rental assistance and extend the eviction moratorium
- $13 billion to increase the Supplemental Nutrition Assistance Program
- $82 billion to be distributed to educational institutions to help safely reopen schools
What can I do to make money while I wait for another stimulus check?
You came to the right place with this question! I will always and forever recommend cultivating a side hustle. Even when we aren’t in a global pandemic, it’s so helpful to have a second gig to fall back on if times get tight.
Here are some of our most helpful resources for getting started with a side hustle:
Side hustles for financial independence: An expert's guide
And, if you’re looking for even more tips, check out all of our articles on side hustles here.