What You Need To Know About The COVID-19 Stimulus Package

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By Nicholette Marbley

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The COVID-19 stimulus package is the most massive bill to be passed in US history. On Mar. 19, The Republican party conjured up a 1 trillion dollar aid package that includes: 1,200 dollars to every American making under 100,000 dollars a year, guaranteed loans and tax cuts for corporate America amounting to 500 billion dollars, and grants to small businesses to keep workers on their payroll. The Democratic party denounced the bill claiming it left out critical components of combating the virus, such as 150 billion dollars for a “Marshall Plan” for hospitals and healthcare workers. They also felt there was not enough money put in place to cover an expansion of unemployment for all 50 states.

” We tried to go forward on a bipartisan basis, and then leadership got a hold in it.” -Mitch McConnell (R-Majority Leader) 

When the bill did not pass, Americans from both parties accused the Democrats of putting politics ahead of struggling American’s who are in dire need of emergency help. People from all walks of life took to social media to blast Democratic leaders for letting deep-seated political issues harm our county. Shortly after, Democrats came up with a 2.5 Trillion dollar package that included a 100 billion dollars in rescue funds for hospitals and healthcare workers which infuriated the Republican party, after 48 hours of intense bipartisan negotiations,  on Mar. 25, after midnight, lawmakers agreed on an 880 page 2 trillion dollar stimulus bill with an unheard of 96-0 vote.  

   ” We all felt good, the people who were working it out,” – Lisa Murkowski (Senator -R )

The bill passed on Mar. 27 and the first wave of funds is set to be released today. You can read the full proposal here.    

https://www.documentcloud.org/documents/6819239-FINAL-FINAL-CARES-ACT.html  

Here is what you know about the bill. 

Who will receive funds?

  • Single individuals who file as “Head of Household” who have a gross income of at least $75,000
  • Any US citizen over 18 who is not claimed as a dependent
  • Married couples who do not exceed making $75,000 individually.
  • Those on unemployment

How much in funds will Americans receive? 

  •  Individuals over 18(who aren’t claimed dependants or college students) will receive 1,200 dollars.
  • Married couples receive $2,500 plus an additional 500 dollars per child.
  • People on unemployment will receive $600 a week for four months including the weekly pay they already receive

Who is not eligible

  • Single filers who make more than $99,000 and are head of household
  • Married couples who make $146,500 who have one child and make more than $198,000 with two children

How will you receive funds?

If you filed your taxes this year or last year, you would receive a direct deposit. If you do not file taxes, you are still eligible and can place your payment information here: https://www.freefilefillableforms.  

Information gathered from Fox News and Politico. 

Stay safe, you guys!