New Stimulus Act Passed

On december 28 the u s.

New stimulus act passed. In march 2020 the u s. The new stimulus bill sets the income. 21 2020 and sent it to president trump for his signature.

Who weren t required to file a federal income tax return in 2018 or 2019 may still be eligible to receive the first stimulus check under the cares act. Congress passed 900 billion in emergency coronavirus relief dec. Nine months later congress has finally taken action on a second stimulus bill which includes among other provisions a second round of stimulus checks.

After weeks of back and forth congress has approved a new 900 billion stimulus package to follow up the cares act from march which included a 1 200 stimulus check 600 in. The new stimulus payments will be a maximum of 600 for individuals with income of less than 75 000 in 2019. House of representatives voted to pass a bill to increase the 600 stimulus checks to 2 000 with the bill receiving the needed two thirds majority of the members voting.

Families also will receive 600 per eligible child dependent. Congressional leaders on monday unveiled the text of a 900 billion fiscal stimulus package and a 1 4 trillion government funding deal that will deliver critical pandemic aid to millions of. Government passed the cares act a stimulus package meant to help people and businesses pay their bills and help preserve the economy.

Much like the 1 200 checks that were distributed to many americans through the cares act earlier this year this new stimulus bill will also provide checks albeit smaller ones. Checks for 600. After a delay the president signed the legislation into law sun dec.