Two more stimulus checks could be on the way, as lawmakers aim to gather enough money from corporate taxes to cover the $1,400 payouts.
Senators Ron Wyden, Mark Warner, and Sherrod Brown have previously issued a draft framework targeted at eliminating incentives for businesses to relocate their operations outside of the U.S.
"While working families have struggled to get ahead, companies that saw their taxes cut in half are doing better than ever before, and paying less in taxes than any time since World War II," Wyden said in a statement.
"To right the ship, we're ending incentives to ship jobs overseas and closing loopholes that allow companies to stash their profits in tax havens."
Democrats are ready to draft the spending package after endorsing President Joe Biden's $3.5 trillion budget plans.
Biden has proposed a corporate tax rate of 28%, which is higher than the current rate of 21%.
Eligible Americans have received a total of $3,200 in stimulus checks so far, not including payments from the expanded child tax credit program, but many are still suffering from the pandemic's economic consequences.
Many people thought the $1,400 stimulus check that was given out in early 2021 was the last of its kind, but there is currently speculation that this is not the case.
The House just passed a $3.5 trillion budget plan, putting the Democrats in a stronger position to develop a tax-funded social spending package.
Democrats are considering a plan to raise $800 billion, which would be roughly enough to pay for two new $1,400 stimulus checks, according to American Enterprise Institute tax expert Kyle Pomerleau. Democrats would need at least 10 Republican votes to move forward with the plan, but nearly 50 Republican lawmakers have already said they would oppose it.
Another round of stimulus checks is doubtful, but not impossible, due to political difficulties.
Over 2.8 million people have signed a Change.org petition calling for a fourth stimulus check of $2,000 for adults and $1,000 for children every month for the rest of the pandemic.
Jen Psaki, the White House press secretary, said in May that it was up to Congress to decide whether or not another round of checks would be implemented.