A $ 900 billion package is in the final stages after President Donald Trump signed it - the bill is going to relieve the people of the effects of COVID-19 and the President signed it on Sunday afternoon, Trump's secretary confirmed on Twitter.
The package will offer a second bonus with a maximum of $ 600 for adults and their dependent children. As with the CARES Act from March, the second allowance has a scalable basis based on the adjusted gross income and will not meet all of them conditions for immediate payment of $ 600. The package also includes an additional $ 300 a week in unemployment insurance, a tax credit to help businesses to pay them employees their.
The IRS is expected to begin sending second stimulus packages - which the agency calls financial impact payments - in about a week, through a combination of physical checks to the post office, direct deposits and EIP cards, Finance Minister Steven Mnuchin said on December 21.
The U.S. House of Representatives passed the bill Monday Senate to approve it later in the afternoon. Trump's signature was the last step required to pass the bill, which is now considered law.
This second stimulus package that millions of Americans will receive is a fraction of the $ 1.200 checks made available in March as part of the CARES relief package. It comes at a time when infections from COVID-19 are growing in many parts of it country. The package comes as the labor market of USA continues to suffer. Last week, more than 885.000 Americans received benefits for the first time unemployment, reports the US Department of Labor.
As the crisis in the field of health and economy intensifies, Congress pushed for a relief measure before the end of the year. This agreement was the result of many negotiations which lasted months between the leadership of the Democratic and Republican parties.
Source of information: cnet.com