Personal finance

Republican senators propose $1,000 stimulus checks

Sen. Marco Rubio, R-Fla., and Sen. Mitt Romney, R-Utah, at a town hall meeting in Aston, Pa., in 2012 when Romney, as governor of Utah, was campaigning for U.S. president.

AP Photo/Jae C. Hong

A second set of stimulus checks could be on the way, but the ink on the deal hasn’t dried yet.

On Thursday, a group of Republican senators introduced a bill that would lower the sum the government sends out to $1,000. Previous Republican and Democrat proposals have called for $1,200 checks to adults and $500 to dependents.

Under the terms of the new bill, the $1,000 checks would be sent to all Americans, regardless of their age or dependent status.

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Both adults and dependents would need to have valid Social Security numbers in order to receive the money. Under the bill, a qualifying family of four could potentially receive $4,000 — $600 more than they would receive under the CARES Act.

The bill is called the Coronavirus Assistance for American Families Act. It was proposed by Sens. Bill Cassidy, R-La.; Steve Daines, R-Mont.; Mitt Romney, R-Utah; and Marco Rubio, R-Fla.

Unlike the CARES Act, this proposal would include all adult dependents, including college students and individuals with disabilities.

Americans who are married to foreign nationals would also be eligible.

Individuals who are foreign nationals or who file their tax returns with Individual Taxpayer Identification Numbers, or ITINs, would not qualify.

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