The White House and Senate have reached a deal in the $2 TRILLION financial package for COVID-19 relief.
While it is quite lengthy, here’s what it means for you.
People making up to $75,000 per year will get $1,200
Couples making up to $150,000 combined would get $2,400
Each child is an additional $500
EXAMPLE: If you and your husband made less than $150,000 during 2018 and you have 2 children you would get a check for $3,400.
***Your yearly income is based on what you reported on your 2018 taxes.
If you make more than $75k or $150k as a couple you’re not cut off. The payments decrease for those making more money. The income cap for assistance is $99,000 per individual and $198,000 for couples.
As of us writing this story there is no exact date that checks will be mailed. Right now the best information we’re hearing is the first week of April.
If you’ve lost your job and can’t find work, you’re getting four months of increased payments and extended benefits for those who wouldn’t typically qualify (like gig economy workers, furloughed employees and freelancers). The bill would increase the maximum unemployment benefit that a state gives to a person by $600 per week. The bill ensures that laid-off workers, on average, would receive their full pay for the next four months.
If you would like to learn more about the bill and how it helps businesses you can CLICK HERE for all the information.