Who will get what and when from the $2 trillion relief package
President Donald Trump on Friday signed the massive $2 trillion stimulus
package into law during a signing ceremony in the Oval Office.
"I want to thank Democrats and Republicans for coming together and putting America first," Trump said.
The House passed the bill, the largest aid measure in American history, earlier Friday in a voice vote after lawmakers were called back to the nation's capital to push the bill through.
The stimulus package will provide essential relief to American workers and an economy reeling from the coronavirus crisis
The White House and Senate negotiators struck a deal early Wednesday morning after days of late-night talks and the Senate unanimously approved the measure 96-0 on Wednesday.
"I want to thank Democrats and Republicans for coming together and putting America first," Trump said.
The House passed the bill, the largest aid measure in American history, earlier Friday in a voice vote after lawmakers were called back to the nation's capital to push the bill through.
The stimulus package will provide essential relief to American workers and an economy reeling from the coronavirus crisis
Here are the key takeaways on who will get what and when:
Direct payments for most Americans taxpayers
Under the plan, individuals who earn $75,000 or less in adjusted gross income would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400.
An additional $500 per child will be tacked on to that.
The payment would scale down as income rises, phasing out entirely at $99,000 for singles and $198,000 for couples without children.
Ninety percent of Americans would be eligible to receive full or partial payments, according to estimates by the Tax Policy Center.
It’s unclear how long it will take the Internal Revenue Service to process and calculate each and every payment. The White House has indicated that Americans could be seeing direct payments as soon as April 6.
Direct payments for most Americans taxpayers
Under the plan, individuals who earn $75,000 or less in adjusted gross income would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400.
An additional $500 per child will be tacked on to that.
The payment would scale down as income rises, phasing out entirely at $99,000 for singles and $198,000 for couples without children.
Ninety percent of Americans would be eligible to receive full or partial payments, according to estimates by the Tax Policy Center.
It’s unclear how long it will take the Internal Revenue Service to process and calculate each and every payment. The White House has indicated that Americans could be seeing direct payments as soon as April 6.
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