On Tuesday afternoon (October 20), the deadline for House Speaker Nancy Pelosi's pre-election bailout bill talks passed, and the chances of a second stimulus check seemed hopeless. However, Democratic negotiators offered some hope that evening.

After meeting with Treasury Secretary Steven Mnuchin, House Speaker Pelosi released a memo sharing an update on the status of the bills, including Stimulus Check 2. The Speaker said Tuesday's meeting "provided clearer common ground to move closer to an agreement."

"With [Tuesday's] deadline, we were able to ensure that a decision can be reached and words can be exchanged, showing that both sides are serious about finding a compromise," Speaker Pelosi said.

The House Speaker said talks will continue Wednesday, meaning there remains hope that a stimulus package will be agreed upon before next month's presidential election.

The size of another stimulus package has been the biggest point of contention in the negotiations. Pelosi and House Democrats have passed stimulus packages exceeding $2 trillion not once, but twice.

Meanwhile, Senate Republicans are still pushing a so-called "skinny" bill that does not include a second round of $1,200 checks to eligible American taxpayers; an earlier version of the $500 billion plan did not gain enough support to move forward in the Senate.

The White House's message on a new stimulus package has been back-and-forth, with President Trump announcing earlier this month that he would break off negotiations, but said Tuesday he was prepared to spend more.

In an interview with Fox and Friends, President Trump said, "I want to do it on an even bigger scale than the Democrats."

"Not all Republicans are for it, but they will," Trump said. 'Because this is money being paid to people who don't deserve what's happened to them.'

Who are the people the President is referring to? The guidelines for eligibility for the second round of the stimulus package have not yet been set, but President Trump has said he will pass a stand-alone bill that will provide a check for $1,200. From the first round of stimulus checks for the same amount, one can infer who is eligible to receive the full amount.

Under the March CARES Act, the government sent $1,200 in benefits to singles with annual incomes up to $75,000 and married people with annual incomes up to $150,000.

Those earning more than that received proportional checks, up to $99,000 and $198,000, respectively. Those earning above the maximum received nothing.

You can use this stimulus check 2 calculator to see how much you will receive based on these eligibility requirements.