BREAKING: Senate passes historic $2T coronavirus stimulus package, as House of Representatives announces Friday vote
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By a vote of 96-0, Senate passed a massive $2 trillion coronavirus stimulus compromise package just before midnight on Wednesday, ending days of deadlock and sending the bill to the House of Representatives — where House Speaker Nancy Pelosi has said there will soon be a “good debate on the floor” over the historic measure to bring relief to individuals, small businesses, and larger corporations.
The article goes on to state the following:
The text of the bill, obtained by Fox News, would provide one-time direct payments to Americans of $1,200 per adult making up to $75,000 a year, and $2,400 to a married couple making up to $150,000, with $500 payments per child. After $75,000 for individuals, the benefit would be reduced by $5 for each $100 the taxpayer makes, per Page 145 of the bill. A $150,000 limitation applies to couples, and a $112,500 limit for heads of households.
The legislation passed by the Senate will use 2019 tax returns, if available, or 2018 tax returns to assess income for determining how much direct financial aid individuals receive. Those who did not file tax returns can use a Form SSA-1099, Social Security Benefit Statement or Form RRB-1099, a Social Security Equivalent Benefit Statement, per Page 149 of the bill.
The bill omits many — though not all — items from Pelosi’s version of the legislation that Republicans had called wasteful or irrelevant, including climate-change related emissions restrictions for airlines and various diversity-related provisions.
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