HOUSTON — The new stimulus package will provide a second round of checks for many Americans -- $600 per person to be exact.
But not everyone will be getting money.
If you earned up to $75,000 in 2019, you'll get the full $600. If you filed jointly as a couple and earned up to $150,000 in 2019 you'll get $1,200.
If you made more than $75,000, you will receive partial payment dropping $5 for every $100 above the income limits.
"Essentially the parameters are all the same. The payments are half the size. If you received it last time you should receive it this time," said Dr. Dietrich Vollrath Economics professor at the University of Houston.
You get an additional $600 per dependent under age 17. Adult dependents do not qualify.
People will still need a Social Security Number to get a stimulus check. But one big difference from last time, you can get a check even if someone else in your house does not have a SSN.
So when can you expect the money?
Experts say it will happen soon if the IRS has your direct deposit information.
"The advantage now is because they have done it once, most of it is let’s press the button and do it again with a different amount. It should be this week early next week people see this appear," said Dr. Dietrich.
It could take a while longer if you're getting a paper check or prepaid debit card.
Bottom line, experts hope this helps those families that need the money the most.
"You are helping the economy by preventing people from getting kicked out of their house, losing their car of falling deeper and deeper in debt," said Dr. Vollrath.