REPORT: What the bailout will do for you
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People who lose their jobs because of the coronavirus will get four months unemployment pay in addition to a government [plan] to send out individual checks to everyone earning under $95,000.
The funds include $1,200 per adult making up to $75,000 a year before phasing out and ending altogether for those earning more than $99,000. That would result in $2,400 to a married couple making up to $150,000, with $500 payments per child.
The article goes on to state the following:
Republicans pushed for the inclusion of the “employee retention” tax credit that will provide $50 billion to companies that retain employees on payroll and cover 50 per cent of those workers’ paychecks. Additionally, businesses would also be able to defer payment of the 6.2 per cent Social Security payroll tax.
Under the plan as it was being negotiated:
■ Single Americans who make $75,000 or less would receive: $1,200
■ Married couples who make $150,000 or less would receive: $2,400
■ Parents would receive an additional $500 for each child under age 17https://t.co/ZI37D3aXEk
— CNN (@CNN) March 25, 2020
‘DIRECT CHECKS COMING TO AMERICANS’
Senator McConnell announces deal on $2 TRILLION stimulus spending package
— Breaking911 (@Breaking911) March 25, 2020
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