How Much & When You'll See Coronavirus Relief Checks

The Senate has finally, and unanimously passed an historic $2 trillion emergency relief stimulus package that will provide some economic relief for Americans, and businesses.

The new legislation is called the CARES Act > the Coronavirus Aid, Relief, and Economic Security Act.

This aid package will make direct payments to Americans, an expansion of unemployment insurance and billions in aid to large and small businesses.

The stimulus package includes a one-time payment of $1,200 per adult ($2,400 for married couples) plus $500 per child under the age of 17. The payments will be lowered for individuals making more than $75,000 dropping by $5 for every $100 over the limit. There will also be a $500 per child payment.

This aid package also includes:
$500 billion to allow the Fed to back $4 trillion in loans and stave off a debt crisis.

 $367 billion for small-business loans.

 $150 billion for state and local aid.

 $130 billion for hospitals.

 Broader eligibility for unemployment benefits and $600 more in payments.

 $3.8 billion for the MTA.

The amount you receive will be based on income reported on 2019 tax returns or 2018 if the most recent version hasn’t been filed.

The Treasury Department said it would like to start sending the checks the week of April 6th with more going out by May 18th.

Individuals making more than $99,000 and couples making more than $198,000 won’t qualify.

This is what has been reported to date. For the time being we’ll just have to wait and see how this actually plays out.

I believe that further along, in the months to come there may be yet another stimulus package needed to help in the recovery of this disastrous pandemic.


Below is the full Cares Act for you to either read or download, and to share with others.