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With the increasing likelihood of yet another round of stimulus checks arriving in the mail for Americans, you may be curious what you stand to receive should the Senate GOP’s HEALS Act proposal be passed into law.
Well, look no further. After previously devising a stimulus check calculator based on House Democrats’ $3 trillion HEROES Act proposal, graduate student Jasmine Mah has returned with a new online calculator based on the HEALS Act.
Mah and partner Bogna Haponiuk have tweaked their formula to factor in the roughly $1 trillion bill’s stimulus check provisions. Like the CARES Act, which was passed by Congress in March, and the Democrats’ HEROES Act, the Senate GOP’s HEALS Act floats stimulus payments of up to $1,200 for individuals earning up to $99,000 per year, and payments of up to $2,400 for married couples making up to $198,000 annually (with the amount gradually decreasing for individuals earning more than $75,000, and married couples making more than $150,000 combined).
But where the HEROES Act would have allowed taxpayers to collect an additional $1,200 for each child or adult-age dependent that they support (up to a cap of three dependents), the HEALS Act suggests a more limited $500 payment per dependent. That is more closely aligned with the CARES Act, which provided an additional $500 for each child (but not adult-age dependents) claimed by a taxpayer.
The HEALS Act Calculator takes all of these provisions into account, and allows users to enter their tax filing status, adjusted gross income, and number of dependents to determine what they would be in line to receive—should Senate Republicans’ proposal be passed into law.
Give it a try, and see how much your next stimulus check may be worth.
More personal finance coverage from Fortune:
- Everything we know so far about the second round of stimulus checks
- More than 4 million mortgages are in forbearance. What are your housing protections?
- How Americans define being “wealthy” has changed drastically during the pandemic
- Need extra money? See if you qualify for a legal payout from Apple, Facebook, and others
- Are you middle-class? This calculator will tell you
This story was originally featured on Fortune.com