What you'll get from the stimulus: Child tax credit, unemployment and more - CNNPolitics - 0 views
www.cnn.com/...index.html
Politics US crisis policy Culture Pandemic economics stimulus-package covid-19 pandemic-recovery
![](/images/link.gif)
-
The $1.9 trillion coronavirus package contains a wide range of benefits to help Americans who are still struggling with the economic fallout of the pandemic.
-
The House of Representatives passed the bill on Wednesday, paving the way for President Joe Biden to sign it into law later this week.
-
The bill provides direct payments worth up to $1,400 per person to married couples earning less than $160,000, heads of households earning less than $120,000 a year and individuals earning less than $80,000 a year.
- ...12 more annotations...
-
Individuals earning less than $75,000 will receive the full $1,400. Married couples earning less than $150,000 a year will receive $2,800 -- and families with children are eligible for an additional $1,400 per dependent. Heads of households earning less than $112,500 a year will also receive the full $1,400 plus another $1,400 per dependent.
-
The jobless will receive a $300 weekly federal boost to unemployment benefits and get those payments through September 6.
-
The bill also calls for making the first $10,200 of unemployment payments tax-free for households with annual incomes under $150,000.
-
Food stamp recipients will see a 15% increase in benefits continue through September, instead of having it expire at the end of June.
-
The bill will send roughly $20 billion to state and local governments to help low-income households cover back rent, rent assistance and utility bills.
-
It authorizes about $10 billion to help struggling homeowners pay their mortgages, utilities and property taxes.The bill also provides $5 billion to help states and localities assist those at risk of experiencing homelessness by providing safe, socially distant housing, for example. Another $5 billion goes to emergency housing vouchers for those who are homeless.
-
Qualifying families can receive a child tax credit of $3,600 for each child under 6 and $3,000 for each one under age 18, up from the current credit of up to $2,000 per child under age 17.The enhanced portion of the credit will be available for single parents with annual incomes up to $75,000 and joint filers making up to $150,000 a year.
-
Enrollees will pay no more than 8.5% of their income towards coverage, down from nearly 10% now. Also, those earning more than the current cap of 400% of the federal poverty level -- about $51,000 for an individual and $104,800 for a family of four in 2021 -- will become eligible for help.
-
The bill provides $15 billion to the Emergency Injury Disaster Loan program, which provides long-term, low-interest loans from the Small Business Administration. Severely impacted small businesses with fewer than 10 workers will be given priority for some of the money.
-
It also provides $25 billion for a new grant program specifically for bars and restaurants. Eligible businesses may receive up to $10 million and can use the money for a variety of expenses, including payroll, mortgage and rent, utilities and food and beverages.
-
Workers being paid at or just above the federal minimum wage of $7.25 an hour will not see a boost in pay.
-
The $1.9 trillion coronavirus package contains a wide range of benefits to help Americans who are still struggling with the economic fallout of the pandemic.