US coronavirus stimulus checks: are you eligible and how much will you get? | World new... - 0 views
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The US has agreed on a $2tn stimulus package, the largest economic stimulus in US history, in response to the economic impacts of Covid-19. While corporations will be the biggest recipients of the bailout, some of that money will be paid directly to Americans hit by the pandemic.
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Congress will spend about $250bn for checks up to $1,200 per person that will go directly to taxpayers.
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To be eligible for the full amount, a person’s most recently filed tax return must show that they made $75,000 or under. For couples, who can receive a maximum of $2,400, the cutoff is $150,000.
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This is not the first time the government has sent checks to Americans. The federal government gave up to $300 in 2001 and $600 in 2008 to taxpayers who met a certain income bracket to similarly stimulate the economy.
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The length and amount of compensation varies from state to state. A majority of states providing a maximum of 26 weeks of compensation, while average weekly compensation ranges from 20% of a person’s wage to just over 50%.
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Not in this bill. Earlier last week, Donald Trump signed the Families First Coronavirus Response Act, a bill worth about $100bn meant to expand paid sick leave and emergency paid leave, but it came with major loopholes. Companies with over 500 employees were not mentioned in the bill, while companies with under 50 employees can apply for exemptions.
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Again, not in this bill. The Families First Coronavirus Response Act included a measure that mandated all Covid-19 testing is free, but treatment for any symptoms (there is currently no cure for the illness) still comes at a cost. A few states have reopened enrollment for their health insurance programs to allow those concerned about costs to enroll, but there are still stories of people getting bills for as much as $34,000 to cover treatment of the virus’ symptoms.