Another Round Of Stimulus Payments Headed To President Trump’s Desk
Residents are scheduled to receive another record of stimulus payments, according to national reports. Leaders in the House and Senate reportedly reached an agreement on Sunday, Dec. 20. Both the House and Senate approved the bill on Monday and sent it to President Trump’s desk.
The House approved the package by a 359-53 vote. The Senate passed the bill by a 92-6 vote.
The stimulus checks will consist of $600 to individuals as well as an additional $600 per child. Individuals with adjusted gross incomes of more than $75,000 will receive a lower amount. Those making more than $99,000 will not receive a stimulus check.
Estimates are that the IRS might be able to sending out payments starting in late January.
Unemployment checks are scheduled to include a $300 weekly increase for a span of 11 weeks starting in late December.
The Paycheck Protection Program will return to allow certain businesses to apply for a second round of loans. The businesses must have less than 300 employees and have seen their revenue drop by at least 25 percent.
The bill aims to provide $82 billion for K-12 schools and colleges across the country. In addition, there will be $10 billion for child care providers.
The day after the bill’s approval, Sen. Chuck Schumer, D-N.Y., said that he anticipates working toward another stimulus package in either January or February.
