Trump Signs $2 Trillion Coronavirus Stimulus Package
The House quickly passed a $2 trillion stimulus package in a voice vote, and President Trump signed it into law on Friday. The bill, which passed the Senate Wednesday, is the largest economic-relief package in U.S. history and will extend aid to many struggling Americans through direct payments and expanded unemployment insurance, which also cover freelance and gig workers. It will provide loans and grants to businesses, augment drained state coffers and send additional resources to sapped health-care providers, according to a Wall Street Journalreport.
The New York Times compiled a Frequently Asked Questions list in regards to stimulus checks, unemployment, student loan changes, and details of the Coronavirus bill. That full F.A.Q. list can be found here.
CNN posted an article outlining when Americans will begin to see money and benefits from the stimulus bill.
“Individuals would be due up to $1,200 and couples would receive up to $2,400—plus $500 per child. But the payments would start phasing out for individuals with adjusted gross incomes of more than $75,000. The amount would then be reduced by $5 for every additional $100 of adjusted gross income, and those making more than $99,000 would not receive anything,” according to the CNN article.
The income thresholds would be doubled for couples.
Read the full breakdown of payments here.