The Coronavirus Stimulus, if passed, would provide and additional $500.00 per child.
One thing that’s important to keep in mind before anyone goes out and blows their stimulus money on gear, is that it hasn’t been determined how it’s going to be taxed. They could make it tax free, or they could make it taxable income. The government could make it so that the cash payment may have to be repaid on that year’s tax return. For example, say you’re single and you receive a check for $1,000 now. Next year, if you’re supposed to get a refund for $3,000, the government would deduct that $1,000 and give you the net difference of $2,000 as your 2020 refund. It’s like an advance on your own money, so-to-speak. Or, they could decide to make it free money. A gift from the government. I wouldn’t bet on that last one - not to get too political, but let’s just say that I have less faith that this administration would do the “right thing” than I’ve had in most of the previous administrations.