Stimulus Check 2.0

New Heroes Act passes with stimulus checks and more unemployment benefits: What now?

The House Democrats' revised stimulus bill would restore some popular programs that were devised to help families weather the coronavirus pandemic. Chief among them: $1,200 per adult stimulus checks targeted to middle- and low-income families.

Against the backdrop of ongoing stimulus check negotiations, the House of Representatives approves a scaled-back bill. What it all means for your second stimulus check.

Democratic lawmakers introduced the measure ahead of negotiations with Treasury Secretary Steven Mnuchin. In a statement, House Speaker Nancy Pelosi said the bill reflects a package that's $1.2 trillion less than the Democrats' original HEROES Act in May, which failed to advance amid opposition from Republicans. The new bill is called the updated HEROES Act, which stands for Health and Economic Recovery Omnibus Emergency Solutions Act.

The new bill would also restore $600 in extra weekly jobless benefits, which until expiring in July provided a lifeline to tens of millions of adults who lost their jobs when the pandemic crippled the economy in March. 

A revised version of the Heroes Act (PDF) -- also known as Heroes 2.0 -- the new Democratic-backed proposal is worth $2.2 trillion.

The Heroes 2.0 legislation, which isn't law. 

Pelosi plans to review "some documents Mnuchin sent over," according to The Washington Post's, and wouldn't commit to odds on a deal. The White House's most recent known offer is $1.62 trillion. What does it all mean for another stimulus bill? Here's what we know, and what could happen next. We update this story often.

The nation's unemployment rate has declined to 8.4% in August from a high of 14.7% in April. Still, more than 21 million workers remain jobless or out of the workforce because of the pandemic, according to an estimate from the Economic Policy Institute. 

Restoring the supplementary $600 in weekly federal jobless benefits would provide a critical income boost. 

Still, the odds of passing the bill remain long. House Speaker Nancy Pelosi told reporters on Thursday that Democrats and the Trump administration were still far apart on issues including funding for state and local governments. There is "a stark difference not just of dollars, but of values," she added.

In order for the Heroes 2.0 proposal to become law, it would still need to pass the Senate -- which is unlikely -- and to receive President Donald Trump's signature.