Government Stimulus: How Much You’ll Get and When You’ll Get It
A $2 trillion economic stimulus package has been officially approved, and here is how it could help you out.
We are certainly dealing with unprecedented health and economic circumstances due to the coronavirus. The US Government has approved an unprecedented stimulus package to hopefully help on both fronts. This is certainly welcome news if the pandemic has affected your employment or income situation.
According to News 10, the portion meant to go right to American taxpayers will work like this:
- Adults will receive $1,200 ($2,400 for married couples)
- Parents will get $500 per child
- For every $100 over $75,000 made by single-income households, payments will be reduced by $5.
- Those who make over $99,000 or couples over $198,000 will not receive any payments
- Income levels will be based on 2019 tax returns (2018 if you have not filed yet)
News 10 says the first round of checks should be sent around April 6 with a second-round going out May 18.