The hard-Hit US Seeks To Relieve Ordinary Citizens With Emergency Aid Package Amid Coronavirus.
The United States of America’s Chamber on Wednesday night approved the US$2 Trillion mammoth bill – the largest economic emergency aid package in U.S. history – designed to offer relief to individuals, the health-care system and even an entire corporate sector ravaged by the Coronavirus outbreak.
The stimulus emergency aid package, also known as “phase three” or the Coronavirus Aid, Relief, and Economic Security (CARES) Act was approved by the Senate in a unanimous 96-0 vote and is set to be finalised by voice vote this Friday morning.
This Is How Much Hard-Hit Ordinary Americans Will Get From The Emergency Aid Package.
- Give one-time direct payments of up to $1,200 for individuals and $2,400 for couples, with $500 added for every child, based on 2019 tax returns for those who filed them and 2018 information if they have not. The benefit would start to phase out above $75,000 in income for individuals and $150,000 for couples, going away completely at the $99,000 and $198,000 thresholds, respectively.
- Boost unemployment insurance, adding $600 per week for up to four months on top of what beneficiaries normally receive from states. It expands eligibility to self-employed people and independent contractors.
- Create a $500 billion pool of taxpayer money to make loans, loan guarantees or investments to or in businesses, states and municipalities damaged by the crisis>chaosafrica