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3 stimulus plans Congress is debating that could put extra cash into your bank account

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  • Congress is expected to debate a Phase 4 stimulus package next month.
  • Many economists say additional action is needed to keep jobless people afloat since unemployment remains in the double-digits.
  • Three plans under consideration are stimulus checks, extra unemployment payments, and hiring bonuses.
  • Visit Business Insider’s homepage for more stories.

Congress is expected to debate another economic relief package next month — and lawmakers are starting to roll out their ideas for what direction it should take.

So far, Congress and President Donald Trump approved over $3 trillion in emergency spending to confront the coronavirus pandemic and manage its economic fallout. The biggest chunk of that came in March from the CARES Act, a $2 trillion relief package that pumped cash into every corner of the American economy. 

For individuals, it had two pillars: a wave of one-time, $1,200 stimulus checks and a $600 federal boost to weekly unemployment payouts that shored up people’s finances during an economic collapse.

Now Congress is looking at three measures that could provide financial relief and add extra cash into people’s bank accounts. Here are all the details.

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