Thursday Sen. Mitch McConnell released the Republican proposal for a massive emergency coronavirus stimulus bill. According to the bill some Americans would receive direct cash payments. The proposal is expected to cost around $1 trillion dollars and calls for direct payments on a tiered scale. According to sources individuals making $75,000 based on a 2018 tax return would be eligible for $1,200 payments, or $2,400 for couples filing jointly.
Payments would decrease for those making more than $75,000, with an income cap of $99,000 per individual or $198,000 for couples. The payments will also increase $500 for each child a person or couple has. Tax payers with little or no income tax liability, but at least $2,500 of qualifying income, only would be eligible for $600, or $1,200 for couples. Read the full story in the link below.