Senate passes $2 trillion bill

[GhostofDempsey]

Finally...

Facing one of the worst economic downturns in American history, one that is unsparing in its trauma, the Senate late Wednesday unanimously approved a $2 trillion emergency relief bill that attempts to arrest the financial havoc caused by the coronavirus pandemic.

Lawmakers acted with unusual speed and cooperation to produce the largest economic rescue package in U.S. history.

The sprawling legislation, which passed 96 to 0, would send checks to more than 150 million American households, set up enormous loan programs for businesses large and small, pump billions of dollars into unemployment insurance programs, greatly boost spending on hospitals, and much more.

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http://www.msn.com/en-us/news/politi...FcA?ocid=ientp

[FinitoxDinamita]

How will the checks be distributed? Every american citizen? Gotta show income info?

Cuz I dont provide any kind of info like that.

Im a US citizen and I just want the 1000...

[Beercules]

How will the checks be distributed? Every american citizen? Gotta show income info?

Cuz I dont provide any kind of info like that.

Im a US citizen and I just want the 1000...

My questions exactly. A check is going to be in my mailbox in a couple weeks?



I want my thousand dollars dammit.

[GhostofDempsey]

How will the checks be distributed? Every american citizen? Gotta show income info?

Cuz I dont provide any kind of info like that.

Im a US citizen and I just want the 1000...

My questions exactly. A check is going to be in my mailbox in a couple weeks?



I want my thousand dollars dammit.

People filing individually

People who file their taxes as individuals are eligible for payments up to $1,200, but that decreases for people who earn more than $75,000 a year. The bill says that the payment is reduced by five percent of every dollar above that mark, or $50 for every $1,000 above $75,000.

What that ultimately means is that for people who make more than $75,000 the payment is less the higher their earnings are, with it being reduced to zero for those who make $99,000 or more.

People filing jointly

Couples who file a joint tax return are eligible for a payment of up to $2,400, plus and additional $500 per child. However, that amount decreases for couples who earn more than $150,000 in a year at the same rate of 5 percent of every dollar above that mark.

This translates to less money the more people make, with it being reduced to zero for joint filers without children who earn $198,000 or more.

People filing as heads of households

People who file as heads of households are eligible for payments of up to $1,200, but that amount is increased by $500 per child. That amount is reduced for people who earn more than $112,000 a year. The extent to which it is decreased, of course, depends on how many children they have, as illustrated by the chart above.