How the government stimulus can help you at home
“Within three weeks we’ll have direct deposit into people’s accounts for people where we don’t have their direct deposit information, there’ll be a web based application, they can upload it,” said Steve Mnuchin the secretary for the U.S. Treasury. “And for people who don’t do that, uh, we’ll, there’ll be checks in the mail.” The most noticeable impact of the bill will be for people who make under seventy five thousand dollars a year. Most of these people, whether married or filing jointly, will receive a one-time check of $1,200, and $500 for each child. Companies with under 500 employees are eligible for a new loan from the Small Business Administration; these loans can be used for things such as payroll and utilities, and if a business keeps its employees instead of firing them, those loans will be forgiven after 6 weeks. (WBNG) — No measure the federal government has taken to combat the coronavirus has been larger than the $2 trillion dollar economic stimulus bill known as the CARES act. The federal government passed it last week, and it’s sending money to millions of Americans. If you use direct deposit, your check will be deposited directly into your bank account in the next couple weeks, but if you still use paper checks, it could take a little longer for you to receive your money. It could take one to two months for a check in the mail to arrive. People who make between 75 and one hundred thousand dollars a year will receive some benefits but not the full twelve hundred. Unemployment benefits were also increased under the stimulus; people are eligible for unemployment for an additional 13 weeks, and will receive an extra $600 a month as well.