Stimulus bill

Package includes one-time paycheck, jobless benefits

CASPER — On Wednesday, the United States Senate passed a massive $2.2 trillion stimulus package to save the U.S. economy from the worst impacts of the COVID-19 pandemic, offering up tens of billions of dollars in new spending to help American workers and industry. But what does that mean for you?

As the American economy is rocked by record-high increases in unemployment, the federal government has sought to reduce the burden on bureaucracy as much as possible, allocating billions of dollars to provide workers with increased unemployment benefits, tax breaks, and even get $1,200 or more deposited directly into their checking accounts.

Here’s what you stand to gain: A one-time paycheck from the federal government Contained in Congress’ stimulus package is a provision allowing for most American workers to receive a one-time, lump sum payment from the federal government ranging between $1,200 to potentially more than $3,000 for families.

To be eligible, recipients must  have a valid Social Security number (meaning undocumented immigrants are not eligible) and must have filed a tax return within the last two years;  have an annual income at or below $75,000 ($112,500 for heads of household).

If you’re filing jointly, couples must have an income at or below $150,000.

How much you receive varies as well.

Read the whole article.

 

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