The second round of the stimulus package is included in a revised bailout bill introduced Monday by House Democrats; along with a second round of $1,200 in direct benefits, the $2.2 trillion bill would also reinstate the $600 weekly federal unemployment benefit that expired in July.

The bill, introduced by House Speaker Nancy Pelosi, comes amid pressure to pass a support bill before the November elections, according to a CNN report. Essentially, it is a slimmed-down version of the $3.4 trillion HEROES bill that the House passed in May, but it is more substantial than the Senate's $500 billion "skinny" bill that struggled to gain support in early September. (The text of the new bill can be read here.)

The overwhelming difference in spending amounts may prevent the Democrats from passing the new bill. But time may tell; according to CNN, with only a few weeks left before the presidential election, the White House is looking for legislative results.

This comes not long after Treasury Secretary Steven Mnuchin, who is representing Pelosi and the White House in negotiations, reportedly resumed talks on stimulus check 2. The two sides had reached an impasse in negotiations over the summer, and now Pelosi is optimistic about finding common ground.

Pelosi's bill includes funding for the Payroll Protection Program (PPP), USPS, and coronavirus testing, in addition to $1,200 for the second stimulus package and $600 per week for enhanced unemployment benefits; the bulk of the cuts from the original HEROES Act would reduce state and local government aid from $900 billion from more than $900 billion to $426 billion. [According to the Chicago Tribune, Pelosi and Mnuchin are scheduled to discuss this on Tuesday. That means we could hear more details soon about the status of support for this new stimulus bill.

The amount of Stimulus Check 2 will not be finalized until the bill is passed, but Pelosi's bill appears to propose the same eligibility guidelines as the first stimulus check.

Single taxpayers earning less than $75,000 per year and married taxpayers earning less than $150,000 per year would be eligible for the full $1,200 benefit, which would begin to phase in as their income increases. Taxpayers earning more than $99,000 if single or $198,000 if married will not receive benefits.

This stimulus check 2 calculator will help you know how much you are eligible to receive if a new bailout bill is passed.