News Desk :
After the bill was passed by both houses of Congress this week, President Joe Biden signed the $1.9 trillion “American Rescue Plan” legislation into law Thursday, paving the way for millions of Americans to receive stimulus checks and a host of other relief in the coming days and weeks.
As the ink on Biden’s signature dries, here are five things you need to know about the legislation.
1 When will Americans begin to see Covid stimulus checks?
Americans eligible for COVID relief checks of $1,400
will begin to see direct deposits as soon as this coming weekend, according to White House Press Secretary Jen Psaki.
2 Who is eligible for those checks?
According to CNBC, to be eligible for the full $1,400, individuals must have an adjusted gross income lower than $75,000. Married couples filing jointly must have an AGI under $150,000.
Individuals earning over $80,000 and couples earning over $160,000 will not be eligible for payments.
The amount you’ll receive depends upon your income on your 2019 or 2020 tax returns. You can find more information here.
3 What other relief can Americans expect?
The bill has several key features that will be aimed at Americans hurt by the pandemic, including:
-The bill will pay for laid-off workers to maintain their employer-sponsored health insurance through September. -The measure will also extend a $300-per-week unemployment insurance supplement through the Pandemic Emergency Unemployment Compensation Program.
-Families will be given up to $3,600 per child as a tax credit in the bill.
-The Pandemic Unemployment Assistance Program, which helps workers who don’t typically qualify for unemployment benefits, will also be extended until Sept. 6.
After the bill was passed by both houses of Congress this week, President Joe Biden signed the $1.9 trillion “American Rescue Plan” legislation into law Thursday, paving the way for millions of Americans to receive stimulus checks and a host of other relief in the coming days and weeks.
As the ink on Biden’s signature dries, here are five things you need to know about the legislation.
1 When will Americans begin to see Covid stimulus checks?
Americans eligible for COVID relief checks of $1,400
will begin to see direct deposits as soon as this coming weekend, according to White House Press Secretary Jen Psaki.
2 Who is eligible for those checks?
According to CNBC, to be eligible for the full $1,400, individuals must have an adjusted gross income lower than $75,000. Married couples filing jointly must have an AGI under $150,000.
Individuals earning over $80,000 and couples earning over $160,000 will not be eligible for payments.
The amount you’ll receive depends upon your income on your 2019 or 2020 tax returns. You can find more information here.
3 What other relief can Americans expect?
The bill has several key features that will be aimed at Americans hurt by the pandemic, including:
-The bill will pay for laid-off workers to maintain their employer-sponsored health insurance through September. -The measure will also extend a $300-per-week unemployment insurance supplement through the Pandemic Emergency Unemployment Compensation Program.
-Families will be given up to $3,600 per child as a tax credit in the bill.
-The Pandemic Unemployment Assistance Program, which helps workers who don’t typically qualify for unemployment benefits, will also be extended until Sept. 6.
