President Trump Signs Stimulus Package: Here’s Who Will Receive Direct Payments
The much-talked-about second stimulus package that totals $900 billion was finally signed by President Donald Trump on Sunday evening, according to WIVB.
The relief bill will help businesses who have been financially impacted by the COVID-19 pandemic, along with sending direct payments of $600 to most Americans.
According to CNET, the direct payments will likely be sent a week or two after the bill officially passes which likely means Americans will see the payments sent by early-to-mid-January.
Here's who will qualify for the full $600:
- Individuals who make $75,000 in gross income annually or less. It will be adjusted up to $87,000 and phased out completely after that.
- You file as the head of a household (claiming children) and earn under $112,500.
- You can also file jointly (without children) and earn less than $150,000 and no more than $174,000.
- Also, any dependent (under 17 years old) will count for an additional $600.
If people didn't qualify for the second stimulus based on 2019 financial data but you would on 2020 data, you still wouldn't qualify for a second stimulus payment. That can be used as a credit against 2020 taxes.
The new relief bill will also extend the federal eviction moratorium into 2021.
You can read more details about the second stimulus package here.