Today (3/27/2020) President Donald Trump signed the $2 trillion package in an effort to fight and get the upper hand on the Coronavirus (COVID-19) pandemic. This legislative package is designed to send financial relief to U.S. businesses and workers that have gotten squeezed by the work restrictions caused by the pandemic’s spread. The bill was approved by the House of Representatives earlier today.
The Coronavirus Stimulus Plan is the costliest in U.S. history. Currently, It is estimated that 80% of all American adults will qualify and receive payment by the U.S. government as a direct result of the 2020 Coronavirus Stimulus Bill.
President Trump is quoted as saying today, ”I want to thank Democrats and Republicans for coming together and putting America first”.
So Who Will It Help?
The Coronavirus Stimulus Bill is designed to:
• Boost unemployment aid
• Provide massive loan funding to corporations
• Assist small businesses
• Send checks or direct deposits to most Americans and American families
This is good news to American families as unemployment rates are currently soaring. However, this bill should not be mistaken for a rescue package, it is an attempt by the U.S. government to do what they can for and to protect its citizens. Chances are this will not be the last bill passed that will deal with Coronavirus pandemic.
How Much will You Receive?
If you earned up to $75,000 in yearly income, you will receive $1,200 per individual (adult) plus $500 per child. Some may qualify for more.
Reduced checks will be provided to individuals that make $99,000 per year or more. For every $100 in income over $75,000, you lose $5.
Married couples qualify for a $2400 check as long as their income does not exceed $150,000 in a year. Married couples with children under 17, will get an additional $500 per child.
How Does the Money Get Sent?
The funds will be sent either electronically or through the mail. If you filed your taxes electronically, the government will send your check electronically to the account they have on file.
If you have not filed your 2019 taxes, the government will use the information from your 2018 return to determine your income as well as where or how to send your check.
Calculate Your Check
To calculate your check, visit the Coronavirus Check Calculator at ->