There hasn’t been much positive talk surrounding this coronavirus pandemic, and now all 50 states in the U.S. have reported coronavirus cases. Worldwide, there have been government-ordered quarantines to help stop the spread of this virus.
Recently, there was some great news that hit the news channels. The United States Senate passed a $2 trillion bill to aid American households during this pandemic.
Earlier, we told you about a stimulus package that had the possibility of helping millions of people. The goal was for the Trump administration to send direct cash payments to Americans in the coming weeks to help them cope with the economic ravages of the coronavirus.
It looks like they achieved that goal. On March 25, this $2 trillion bill became official, and in the coming weeks, Americans will have temporary financial relief.
How Much Will You Get?
Single individuals will receive $1200, and married couples will get $2400. In addition to that, if you have a child, you will get $500 for each child. It’s important to know that these payments are based on 2019 federal tax returns.
If you didn’t file those already, they are extending it to 2018. CNN also reported that the “payments would start to phase out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 would not qualify at all.” In other words, if you make more than 75K, you are probably not getting a check.
$1200 Not Enough For Some
While $1200 doesn’t seem like a lot of money, one has to realize that it’s every adult basically with $1200. With all that money put together at one time, it is sure to give the economy some economic relief. Although it is now the final solution to this coronavirus pandemic, it will give millions of people a buffer.
With so many people out of work, there have been calls for rent strikes, and concerns about how bills will get paid. In San Diego, there are already rent strikes occurring. Tenants have drafted up letters to give to their landlords on April 1 expressing how they can’t afford rent due to them having no work. To many, $1200 isn’t even enough to cover their monthly rent. Hopefully, this stimulus package is not the last one that comes.