KIMT NEWS 3 - On Wednesday afternoon, Congress is putting final touches on a $2 trillion stimulus bill to jolt the struggling economy as it continues to take hits from the coronavirus pandemic.
This is one of the most expensive and far-reaching measures in the history on congress.
$250 billion is for direct payments to individuals and families. $350 billion is for small business loans. $250 billion is for unemployment insurance benefits and $500 billion is for loans for distressed companies.
If you are single and earning $75 thousand or less, you qualify for $1,200 in payment. Married couples earning $150 thousand or less qualify for $2,400 with an additional $500 per child. If you're single and make more than $99,000 or are married and collectively make more than $198 thousand, you do not qualify.
Eligibilty will be determined by your 2019 tax return, or your 2018 return if you haven't filed yet this year.