Americans React to Proposed Covid Stimulus Relief Package Ahead of Vote

The economic stimulus measure nearing approval in the U.S. Congress includes a second round of direct stimulus payments to households -- an acknowledgment that families need another injection of cash to get through the latest surge in virus cases and lockdowns.

This time, lawmakers are set to approve $600 checks for most adults and $600 for each of their children. The hope is that the payments, along with additional money for small businesses, jobless individuals and more nutrition benefits, can help bolster households and combat rising poverty rates.

If you earn less than $75,000, or you and your spouse collectively make less than $150,000, you’ll get $600 for each of you plus $600 for each dependent child. Those payment amounts are reduced by $5 for every $100 you earn above the income threshold, which means those earning more than $87,000 as an individual or $174,000 as a couple get nothing.

Also receiving the payments: seniors whose only income is from Social Security, railroad retirees and veterans who rely on disability payments. If the IRS issues more than you are supposed to receive, you do not have to pay the excess amount back. The payments are not allowed to be reclaimed to pay for back federal or state debts, and banks are forbidden from garnishing the payments.

Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm

Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.

To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app.

Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30

Connect with us on…
YouTube: https://www.youtube.com/user/Bloomberg
Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews
Twitter: https://twitter.com/quicktake
Facebook: https://www.facebook.com/quicktake
Instagram: https://www.instagram.com/quicktake

Видео Americans React to Proposed Covid Stimulus Relief Package Ahead of Vote канала Bloomberg Quicktake