WASHINGTON — The White House and Senate leaders announced a $2 trillion pandemic response measure on Wednesday that includes sending checks directly to people across the country impacted by the coronavirus crisis.
The package provides one-time payments of $1,200 per adult and $500 per child under the age of 17. Married couples will receive $2,400.
However, payments phase out for individuals making more than $75,000. For every $100 you earn above the limit, payment drops by $5.
Individuals making more than $99,000 and couples making more than $198,000 will not qualify for a payment.
The amounts will be determined based on 2019 tax returns. If a 2019 tax return has not been field, 2018 returns will be used. Last week, a Treasury Department request to Capitol Hill outlined a start date of April 6 with a second batch of checks going out on May 18.
The proposed stimulus package also boosts unemployment benefits. In addition to state unemployment insurance, individuals could get $600 from the federal government for up to four months.
David Compton told 2 NEWS he finally got through to the Ohio unemployment site after days of it crashing on him.
“I checked my status and it looks like they approved me and they’re going to send me money sometime, although I don’t know when,” said Compton.
Compton just lost his saute chef position at a local restaurant. He said he was excited to hear this morning about the bipartisan deal in the Senate on a stimulus package.
“It’s going to help me keep my head above water for a little while,” said Compton. “As soon as I can find a job, I plan on working. I’m not relying on anything other than that, I really want to go back and work in my field.”
Compton said he knows many families who are impacted by coronavirus will benefit from the stimulus, he just hopes it comes soon.
“There are people with no savings and live paycheck to paycheck,” said Compton. “So it could be a problem because it’s going to take time to get that stimulus out the door, I know it’s not going to happen overnight.”
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