Stimulus bill passes Senate, House expected to give approval

Remigio Civitarese
Marzo 27, 2020

Key elements of the proposal are $250 billion set aside for direct payments to individuals and families, $350 billion in small business loans, $250 billion in unemployment insurance benefits and $500 billion in loans for distressed companies, according to CNN.

That means help for those impacted in New Jersey, especially after President Donald Trump issued an emergency declaration for the state on Thursday.

Any person who has a "work-eligible Social Security number" and is not listed as a dependent on another taxpayer's return is eligible for the full rebate (more on that below) if his or her income is below $75,000, or $150,000 for married couples, according to a Senate analysis.

The payments are expected to be $1,200 per adult for those with adjusted gross incomes of up to $75,000. The payment is reduced if singles earn up to $99,000. If you earn up to $198,000, you will get a partial payment.

The benefit will phase out entirely for individuals earning more than $99,000, for heads of household with one child earning more than $146,500 and for married couples filing jointly without children earning more than $198,000.

Although Trump and Mnuchin are pushing to begin sending out stimulus checks in as little as two or three weeks after the bill is finalized, experts say six weeks from now is likely the earliest consumers can expect to receive their checks.

"I know it is her birthday, but it does not give her the right to lie", McCarthy, a California Republican, said on Fox News' "The Ingraham Angle" on the day that Pelosi, a San Francisco Democrat, turned 80 years old.

The bill allows for expanded unemployment insurance to cover gig workers and self-employed and non-profit employees. "We're looking to get a lot more information and we have procedures to do that".

Back then the financial relief package was signed into law in February but the delivery date for people whose checks were sent through the mail was somewhere between May and July. In addition, the Small Business Administration will pay the principal, interest and fees of existing SBA loans.

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