Second Stimulus Check Calculator: How Much Will You and Your Household Get?

Millions of Americans suffering due to the coronavirus pandemic have been eagerly awaiting news of a second stimulus check.

And after a stalemate lasting almost nine months, on Sunday lawmakers finally sealed a deal on a COVID-19 economic relief package worth around $900 billion to deliver a lifeline to struggling individuals and businesses.

The package includes a temporary $300 per week supplemental jobless benefit, food and rental assistance, aid to small businesses and a second direct stimulus payment to most Americans.

Americans who earned $75,000 a year or less in 2019 will qualify for the full $600 one-time payment, however the amount is reduced if their income last year was higher. Those who earned more than $99,000 in 2019 won't qualify for a check.

Although the second stimulus payments are less generous than the $1,200 checks issued under the CARES Act, there is more money for children. A married couple or single parent can obtain an extra $600 for each dependant (more than the $500 per child dependent allocated under the CARES Act).

If you're wondering exactly how much you or your household will receive, the Omni Calculator Project has released a tool that can calculate the amount for you.

Use the tool below or click here.

Second Stimulus Check Calculator - $900 Billion Bill

The tool was built by Jasmine Mah, a graduate of the University of Guelph in Ontario, Canada, who now lives in Los Angeles.

"With the end of 2020 drawing near, this is a critical time for the second stimulus check to come. I know we'd all like to move on and start fresh in the new year, but people around the country still need support," she told Newsweek.

"It's especially critical for those who lost jobs due to the pandemic as the unemployment extensions and programs from the CARES Act programs are ending."

She added: "When using the second stimulus check calculator, please keep in mind that while we know the gist of it, and can make some assumptions from the previous CARES Act and bill proposals, the finer details of eligibility are still to be confirmed."

In a CNBC interview on Monday, Treasury Secretary Steven Mnuchin said some people could receive their stimulus checks as early as next week.

"The president wanted direct payments, so we will be sending out next week direct deposit. I suspect we'll get the money out by the beginning of next week: $2,400 for a family of four, so much needed relief," Mnuchin said.

He later added: "People are going to see this money the beginning of next week. So it's very fast. It's money that gets recirculated in the economy, so people go out and spend this money and that helps small business. That helps getting more people back to work."

Announcing the deal on Twitter Sunday, Senate Majority Leader Mitch McConnell said: "As the American people continue battling the coronavirus this holiday season, they will not be on their own.

"Congress has just reached an agreement. We will pass another rescue package ASAP. More help is on the way."

Some Democrats have insisted that $600 stimulus checks are nowhere near enough to help Americans who have been struggling financially for months because of the pandemic.

BREAKING: As the American people continue battling the coronavirus this holiday season, they will not be on their own.

Congress has just reached an agreement. We will pass another rescue package ASAP. More help is on the way.

— Leader McConnell (@senatemajldr) December 20, 2020

"This #COVIDrelief will provide emergency aid to Americans," Senate Minority Leader Chuck Schumer said on Twitter.

"But anyone who thinks this is enough does not know what's going on in America and has not looked into the eyes of a small business owner, a restaurant owner losing their business. We must do more under President [Joe] Biden."

This article has been updated with additional comments from Jasmine Mah.

Stimulus check
U.S. President Donald Trump's name appears on the coronavirus economic assistance checks that were sent to citizens across the country April 29, 2020 in Washington, DC. Chip Somodevilla/Getty Images