House Speaker Nancy Pelosi on Thursday claimed that Democrats "won the day" in obtaining what they wanted from the Senate's $2.2 trillion coronavirus response stimulus package, while hinting at other items she would like to see included in a forthcoming bill. The Washington Post has a calculator for estimating how much money your check should contain.
The rescue package will allow for the government to send checks to American households in the middle class and lower income levels.
"We're looking to get a lot more information and we have procedures to do that".More news: Coronavirus: Australia Demands Cruise Ship With COVID-19 Patients Leave Its Waters
"The last time the USA government did anything like this, back in 2008", the Post reports, "the payments went out in batches and it took about eight weeks for the final people to receive their checks".
Non-married individuals who filed a tax return with an adjusted gross income of up to $75,000 in 2018 will be eligible for a check of $1,200 under the Senate bill. Married couples also will receive an additional $500 for every child. Individuals who earned more than $99,000 will not receive a check. If you haven't filed your taxes yet, the feds will use the numbers from your 2018 return.
Gig workers, like Uber drivers and Amazon Flex delivery drivers, are going to be eligible to apply for benefits as well, although it is not yet clear how much they can get. If you make between $75,000 and $99,000, you'll get a reduced check ($5 less for every $100 you make above $75,000). There has also been the idea of an April 6 date to start sending payments, though most consider that unlikely.More news: Kosovo's Parliament Topples Government In No-Confidence Vote
Couples who filed a joint combined income of more than $198,000 will not receive a direct payment. That's expected to be a relatively small share of people, and the money would not have to be paid back until April 15, 2021.
Although Trump and Mnuchin are pushing to begin sending out stimulus checks in as little as two or three weeks after the bill is finalized, experts say six weeks from now is likely the earliest consumers can expect to receive their checks. That means that if you filed a tax return this year or last year, you'll probably receive a rebate, assuming your income is below the caps. "As soon as Congress passes this, we will get this out in three weeks".More news: Number of COVID-19 cases in Ontario spikes for second straight day