According to CNN, Senate Republicans will unveil their next stimulus package today, which will include Stimulus 2, but will likely reduce federal unemployment benefits to $200 per week

The first CARES Act, passed in March, would provide an additional $600 per week in federal benefits to unemployed Americans in addition to state unemployment benefits This bailout expired on July 31, and lawmakers are at odds over whether to continue federal unemployment benefits and at what level

Initial reports indicate that under the Senate Republican proposal, unemployment benefits would be reduced to $200 per week [States are required to implement a system that pays benefits until laid-off workers receive 70% of their wages Federal unemployment benefits would then be phased out [But lawmakers and White House negotiators are still unsure whether states' unemployment programs will be able to transition to the new system in just a few months or not at all

As the Senate continues to debate the proposal with House Democrats and the White House, many Americans are focused not only on the possibility of reduced or delayed federal unemployment relief payments In some states, workers would have to reapply to extend standard unemployment benefits, a process that could take some time

One thing Americans can look forward to is Stimulus Package 2 Although the date for Stimulus 2 has not yet been set, lawmakers have agreed that single workers earning less than $75,000 a year and married workers earning less than $150,000 a year will receive up to $99,000 and $198,000, respectively, in stages, with another $1,200 to be paid once

Those who received the first stimulus check can expect to receive another check for the same amount This stimulus check 2 calculator can provide some insight into the amount you can expect

Also, if you have not yet received your first stimulus check and believe you are eligible, check your status on the IRS Get My Payment app or call the IRS stimulus check phone number and ask for a representative

Before payment can be made, Senate Republicans must reach an agreement with House Democrats and President Trump must sign the final bill

However, even as lawmakers move closer to an agreement, difficulties remain The White House reportedly wants to narrow the scope of the relief more than Republicans are proposing, while House Democrats may resist cutting federal unemployment benefits or limiting the relief to a certain percentage of pre-pandemic workers' wages

The Senate is scheduled to begin its next recess on August 10 and will not resume session until early September If the proposal does not pass, the American people may have to wait until the fall for their stimulus checks and unemployment benefits