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Second coronavirus stimulus check update: Here's when Americans could receive the cash
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Second coronavirus stimulus check update: Here's when Americans could receive the cash

If President Trump signed legislation by the beginning of August, that could mean Americans would start to see the money at least by the end of the month -- if not earlier.

Economy

A fresh round of stimulus checks for Americans still reeling from the coronavirus pandemic is seeming more and more likely.

On Monday, Senate Republicans unveiled the $1 trillion HEALS Act -- the Health, Economic Assistance, Liability Protections and Schools Act -- which, among other measures, includes another $1,200 economic impact payment.

The second checks will follow the same eligibility formula as the first round, according to a memo from the Senate Finance Committee. Qualifying individuals who earn a gross adjusted income of up to $75,000 and couples earning $150,000 would receive the full $1,200 or $2,400, respectively. For higher earners, the checks will be reduced by $5 for every $100 in income and phased out entirely at $99,000 and $198,000.