Want a Second Stimulus Payment? These 4 Proposals Are Making Their Rounds in Congress

In a matter of two months, the coronavirus disease 2019 ( COVID-19) has put an end to the longest economic expansion on record, shut down nonessential businesses across much of the country, and displaced more than 30 million workers, according to initial unemployment claims. Never before have we witnessed this level of economic and labor market disruption in such a short time frame.

Knowing full well the ramifications of mitigation measures being implemented throughout much of the country, lawmakers in Congress passed and President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law on March 27. At $2.2 trillion, it's the largest economic stimulus bill in history, with money set aside for hospitals, distressed industries, small businesses, and an expansion of the unemployment benefits program.

Yet the most defining aspect of the CARES Act is the $300 billion directed at stimulus payments for American workers and senior citizens receiving government benefits.