Financial Calculators and Tools

Second stimulus checks may be on the way: This calculator shows how much money you could get

Republicans in the Senate have proposed a new coronavirus economic relief bill that includes another round of stimulus checks. Use this calculator to figure out how much to expect.


A second round of stimulus checks might be going out to Americans soon. On Monday, Senate Majority Leader Mitch McConnell unveiled the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act, which includes another round of stimulus checks similar to those distributed as part of the CARES Act earlier this year. 

As with the first stimulus checks, payments will be for up to $1,200 per person and the amount you get will depend on how much you earn, whether you're married, and if you have dependents.

With millions still unemployed, Americans have been looking for more economic relief. More than three-quarters of swing state voters, including 68% of Republicans, support an additional round of stimulus payments, according to a recent CNBC/Change Research poll.

It's important to note, though, that the plan isn't official yet: Congress still needs to come to an agreement over the details of a potential economic relief package. The timeline for receiving payments would depend on how quickly Congress can reach an agreement. Treasury Secretary Steven Mnuchin has said he hopes the legislation is finalized by the end of the month, but major differences between the parties, and their proposals, persist.

Regardless, the new stimulus checks are expected to make it into the final bill, as both parties' proposals include another round of checks and President Donald Trump has expressed support for the additional payments.

"The president's preference is to make sure that we send out direct payments quickly so that in August, people get more money," Mnuchin said in an interview with CNBC last week.

This calculator can help you figure out how much money you'd get in your second stimulus check under the HEALS Act.

How does the government determine how much I'll get? 

According to the HEALS Act, the government will base the amount you receive on the adjusted gross income, or your income minus certain deductions, that you reported on your most recent taxes. If you haven't filed your 2019 taxes yet, they'll look at what you reported for 2018. 

Individuals who earn up to $75,000 a year will be eligible for a one-time maximum relief payment of $1,200. If your salary is more than $75,000 but less than $99,000, you're eligible for a reduced payment. The government will base the amount you receive on a sliding scale, with the amount falling by $5 for every $100 in income above $75,000. 

Does the amount change if I'm married?

If you're married and filing jointly, you're eligible for a $2,400 check, as long as your adjusted gross income is less than $150,000 a year. If you and your partner earn more than $150,000 but less than $198,000, you're still eligible for a reduced payment based on the same sliding scale, which subtracts $5 for every $100 in income you earn over that $150,000 threshold. 

If I'm a parent, do I get more money? 

If you're a parent, you may also receive up to an additional $500 per child, no matter your filing status. Unlike the first round of checks, which limited qualified dependents to those under 17, Mnuchin has said that all dependents will qualify for the additional $500.

If you're a single parent, which usually means you file your taxes as a "head of household," you're eligible for the full $1,200 check, as long as you earn less than $112,500 a year. If you make more than $112,500 but less than $136,500, your check will be reduced using the same sliding scale. 

Do I qualify if I don't have an income? 

If you're retired or if you're disabled, you're still eligible to receive that $1,200 check, as long as your Social Security benefit income doesn't exceed the individual limit. 

What about the $600/week enhanced unemployment benefits?

The new proposal from the Republican-led Senate has major differences from the HEROES Act, passed by House Democrats in May. One major sticking point is in the expanded unemployment benefits proposed by the two bills: The HEROES Act extends the additional $600-per-week benefit through the end of the year, while the HEALS Act would cut the benefit to $200 per week temporarily while setting up a system that would limit total benefits to 70% of a worker's salary starting in October.

How will I get my second stimulus check?

If you set up direct deposit with the IRS, the government will send your relief payment to the bank account they have on file, meaning you should receive the funds more quickly.

If you don't have direct deposit set up, you will receive either a check or a prepaid debit card in the mail. At a recent Congressional hearing, Mnuchin vowed to improve the delivery of debit cards, many of which got mistaken for a scam the last time around.

Those whose 2019 tax returns have been processed should receive their checks more quickly, Garrett Watson, senior policy analyst at the Tax Foundation, told CNBC.

More from Grow:

acorns+cnbcacorns cnbc

Join Acorns


About Us

Learn More

Follow Us

All investments involve risk, including loss of principal. The contents presented herein are provided for general investment education and informational purposes only and do not constitute an offer to sell or a solicitation to buy any specific securities or engage in any particular investment strategy. Acorns is not engaged in rendering any tax, legal, or accounting advice. Please consult with a qualified professional for this type of advice.

Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results. Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts. It is not possible to invest directly in an index.

Advisory services offered by Acorns Advisers, LLC (“Acorns Advisers”), an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Brokerage and custody services are provided to clients of Acorns Advisers by Acorns Securities, LLC (“Acorns Securities”), a broker-dealer registered with the SEC and a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Acorns Pay, LLC (“Acorns Pay”) manages Acorns’s demand deposit and other banking products in partnership with Lincoln Savings Bank, a bank chartered under the laws of Iowa and member FDIC. Acorns Advisers, Acorns Securities, and Acorns Pay are subsidiaries of Acorns Grow Incorporated (collectively “Acorns”). “Acorns,” the Acorns logo and “Invest the Change” are registered trademarks of Acorns Grow Incorporated. Copyright © 2019 Acorns and/or its affiliates.

NBCUniversal and Comcast Ventures are investors in Acorns Grow Incorporated.