Stimulus Checks From Government
By Carter Balbuena 含光君
The new $1.9 trillion COVID-19 Stimulus Bill proposed by President Biden has been signed by the Senate and the President himself, so here’s what the bill includes:
Most likely, the first thing people are wondering about is the stimulus check, specifically how much they’re getting, and if it’ll be enough to support them. Those eligible are as follows: individual people get $1,400 per person if they earn up to $75,000 per year and for couples if they earn up to $150,000 per year. This means that for a family of 4–two parents and two children–they would receive a check for $5600.
Now, those that are unemployed get $300 a week, which was originally proposed as $400. This will extend up to September 6, 2021.
Public and Education
Over $128 billion in grants is being given to schools, which includes funding for colleges, transit agencies, housing aid, child care providers, and food assistance. $7.5 billion is being sent to the Center for Disease Control and Prevention to aid the COVID-19 Vaccines.
Child tax credit has been increased to $3,000 for ages 6-17 and $3,600 for children under 6. As for couples earning $150,000 a year and individuals earning $75,000, this amount is reduced. However, those that are eligible for full credit will get payments up to $300 per month starting July and lasting until the end of the year. Additionally, $7.25 billion is included for a small-business loan program known as PPP which allows for more nonprofits to apply and also includes larger nonprofits to be eligible.