Congress and the White House have reportedly agreed on a $2 trillion stimulus bill that includes direct payments to Americans. So, what kind of payments can we expect? And when?
The bill includes payments of $1200 for single adults, $2400 for married couples, and $500 for each child under the age of 17. Everyone who earns less than $99,000 per year will qualify - which is about 90 percent of Americans. Those who earn more than $75,000 per year will still get paid, but they will see reduced payments.
“Today, the Senate will act to help the people of this country weather this storm. Nobody thinks legislation can end this. We cannot outlaw this virus,” McConnell said on the Senate floor Wednesday. “This is not even a stimulus package. It is emergency relief."
The proposed stimulus bill also includes a $150 billion fund for state and local emergency aid, as well as $130 billion for hospitals.
As for how soon the checks will be sent out, it could be anywhere from two to six weeks - likely faster for those who have filed their taxes electronically.
Read the full report on The Washington Post.