Third Stimulus Check Eligibility May Change for Minnesotans
It's been a topic of conversation for a few weeks, now. We received a $1200 stimulus check basically at the beginning of this pandemic to stimulate the economy and hopefully help some people that found themselves either furloughed or just flat out jobless. The unemployment benefits were extended and there was an extra amount for a period of time also to help out.
Then, months later, there was the discussion about the possible $2000 stimulus that would be coming out. And again, same as with the first round, individuals making $75,000 or less and households making $150,000 or less would be receiving the cash. What actually was approved was $600 or $1200 for a household with some extra per dependent living in the home. Many thought that just wasn't enough.
Now, there is some discussion about another $1400 going out to that same group of people. The reason for the $1400 is to make the amount up to the original $2000 that was discussed when the decision was made to just send the $600. But now, that may change again.
Some economists have determined that not everyone in that financial group is using the money that has been sent to them. Some people are just saving that money for a later date. But some people are using it for necessities, like how the money was intended to be used. So, economists are suggesting that there be a new group that the money, if there is any this time, go to households who make $75,000 or less. That will most likely cut the amount of people receiving the stimulus in half. And there are a few other scenarios as well. This is just one of the examples that has been proposed.
Of course, this is still in the discussion process. The third stimulus check hasn't been approved as of yet, but if it is, the recipients could be much different than previous.
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