Many Americans have started getting their $600 stimulus checks but there was a push to increase the amount to $2,000 per person. Congress tried to pass the larger payment, but the effort fell short at the last minute.
After Christmas, President Donald Trump signed a $900 billion relief package. This bill included the $600 stimulus checks and more funding for the Paycheck Protection Program (PPP), which had helped businesses especially restaurants stay afloat during the summer months.
However, before signing Trump criticized the $600 amount saying it was too low. In response, the US House of Representatives passed a measure on January 28 to raise the checks to $2,000 for individuals within a certain income range. Despite this Senate Majority Leader Mitch McConnell blocked the proposal before Congress ended its session.
Economic Impact of Stimulus Payments
According to Jack Kleinhenz chief economist for the National Retail Federation (NRF), the effects of the pandemic will continue to be a challenge.
However, he believes that the relief package will help keep the economic recovery going. He compared the economy to an old Timex watch saying, “It takes a licking but keeps on ticking.” He also mentioned that stimulus payments have historically encouraged consumer spending.
Who Qualifies for the $600 Stimulus Checks?
The relief bill signed on December 27 provides a one time $600 payment to individuals earning up to $75,000 per year. Additionally, unemployed individuals will receive an extra $300 per week for nearly three months.
Income Eligibility for Stimulus Payments
| Filing Status | Income Limit | Stimulus Amount |
| Single | Up to $75,000 | $600 |
| Married | Up to $150,000 | $1,200 |
| Dependents | No limit | $600 per child |
Kleinhenz emphasized that this financial aid is especially crucial for low-income families and unemployed individuals who have been struggling the most.
Check out our other article to find more stimulus checks and check are you eligible for Stimulus Checks in 2025?
How Retail Sales Were Affected?
Despite the economic downturn, retail sales for the first 11 months of 2020 (excluding auto dealers, gas stations and restaurants) rose by 6.6% compared to 2019.
November alone saw an 8.8% increase from the previous year putting the holiday season on track to meet the NRF’s forecast of 3.6% to 5.2% growth. More detailed holiday sales results are expected in the Census Bureau’s January 15 report.
FAQs About $600 stimulus checks
When will I receive my $600 stimulus check?
Many Americans have already started receiving payments, but processing times may vary depending on how the IRS sends the funds (direct deposit, check, or debit card).
Why didn’t Congress approve the $2,000 stimulus checks?
The House of Representatives passed the increase, but it was blocked in the Senate before Congress adjourned.
Who qualifies for the additional $300 unemployment benefit?
Anyone currently receiving unemployment benefits is eligible for the extra $300 per week for nearly three months under the relief bill.