Coronavirus Stimulus Controls: What to Expect and When

Coronavirus Stimulus Controls: What to Expect and When | InvestorPlace Skip to content

Copyright © 2020 InvestorPlace Media, LLC. All rights reserved. 1125 N. Charles St, Baltimore, MD 21201.

Checks can be shown three weeks after Congress approves the bill By William White, InvestorPlace Writer March 25, 2020, 3:36 PM EST March 25, 2020

Coronavirus stimulus controls are part of a new $ 2 trillion deal by the US Senate to help fight coronavirus from China.

Source: Shutterstock

Here’s what US citizens need to know about coronavirus stimulation checks.

That stimulus package will have the government set aside $ 250 billion in funding to help people. This will cause it to send controls for adults and children who are being affected by corona. Each adult making less than $ 75,000 per year will receive a $ 1,200 check. This means that a married couple will receive $ 2,400 in funding. However, there is more money for parents. They will receive an additional $ 500 for each child they have who is 17 years of age or younger. Adults who make more than $ 75,000 a year may still receive some support, but not as much. The amount of the check is reduced and those who earn $ 99,000 annually do not receive a check. In addition, the checks will be based on 2019 tax registration, or 2018 notifications if the person has not filed taxes yet this year. Unfortunately, it can take a while before the controls reach people. While a date has not been set for sending the checks, history shows that it will take a couple of months before they start appearing. If this is the case this time, people will not be able to start receiving checks until May. Despite this, Finance Minister Steve Mnuchin says the plan is to check the controls three weeks after Congress has agreed.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media,

© 2020 InvestorPlace Media, LLC

Subscriber Log in

Not a premium subscriber yet?

Subscribe Close login mode