0.9 min readBy Published On: March 26th, 2020Categories: News0 Comments on US Stimulus Package 101

Late Wednesday night (technically Thursday morning) the U.S. Senate unanimously passed a $2 trillion aid package. The bill now goes to the House and is expected to vote Friday and then will be sent to President Trump for his signature.

The breakdown

If you make up to $75K, you will get $1200 plus $500 per child. If you file jointly and make up to $150K, you’ll get $2400 plus $500 per child.

Most workers who earned up to $75,000 will get $1,200, plus $500 per child, and joint filers who made up to $150,000 will get $2,400, plus $500 per child. Payments will be less for workers who made more than $75,000 ($150,000 for joint filers) and stop altogether at $99,000 ($198,000 for joint filers.)

The information will be taken from your 2019 or, if unavailable, 2018 tax returns.

You can find out how much you may be getting here.

According to the White House, the checks will be sent out as soon as possible. Basically, after President Trump signs the bill, people will see their money within three weeks.

According to the Washington Post, roughly 125 million people will receive a check – basically 83 percent of tax filers.

So there you go.

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