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City Of Somerville On Twitter The Recently Passed Cares Act Directs 2 Trillion For Coronavirus Relief Efforts How Does This Impact You Learn More About The Stimulus Package And The Relief Available
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The second stimulus checks would be phased out entirely for single people earning over 87 000 or married couples earning more than 174 000 compared with the cares act s phaseout for single.
Cares act stimulus married. The 2 2 trillion cares act is the largest fiscal stimulus package in history. Citizen married to an undocumented immigrant is not entitled to a payment an exception that is the subject of controversy and lawsuits. Many older adults including retirees over age 65 received a first stimulus check under the cares act and will be eligible for a second one.
Those eligible for a full stimulus payment include individuals earning up to 75 000 or 112 500 as head of household and 150 000 as a married couple filing jointly. 2020 total cost of stimulus package. 900 billion 2 2 trillion.
In the cares act from march households with a person who wasn t a us citizen weren t eligible to receive a stimulus check even if one spouse and a child were us citizens. The payments are expected to stimulate taxpayer spending spur economic activity and provide relief for economic hardships related to covid 19. Any couples earning over 174 000 won t get a payment down from 198 000 in the cares act.
These stimulus checks are one result of the coronavirus aid relief and economic security act the cares act. 2020 cares act march 2020 revised heroes act oct. For a similar reason married couples will face a lower income threshold for receiving the 600 checks.
It set aside 500 billion for distressed industries close to 350 billion in small business loans and 260 billion.
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