Stimulus Check Bill Summary

That means a family of four would receive 2 400 up to a certain income threshold.

Stimulus check bill summary. Direct economic relief via stimulus checks of 600 for individuals making up to 75 000 per year. Trump has said that he will sign the bill giving 600 stimulus checks to eligible americans. The 1 400 payments included in the bill.

The bill increases the refundable payroll tax credit from a maximum of 5 000 to 14 000 by changing the calculation from 50 percent of wages paid up to 10 000 to 70 percent of wages paid up to 10 000 for any quarter. The legislation includes 600 stimulus checks per person including adults and children. In an address last night president elect joe biden outlined his new covid 19 economic relief bill which includes another round of stimulus check payments.

The coronavirus aid relief and economic security act also known as the cares act is a 2 2 trillion economic stimulus bill passed by the 116th u s. Working to win congressional support for a larger proposal is a key goal for his administration. Biden has repeatedly referred to december s bill and the 600 stimulus checks that came with it.

1 200 for couples making up to 150 000 and an extra 600 for dependent children that are under 17 years old. The bill clarifies that businesses will now be able to take the employee retention tax credit and participate in the ppp. Direct payments to citizens.