The senate just passed an economic stimulus package on March 25, 2020. Here is what we know for now:
- Direct payments of $1,200 to most individuals making up to $75,000, or $2,400 for couples making up to $150,000. Each dependent child increases the amount by an additional $500. The amount decreases for individuals with incomes above $75,000, and payments cut off for those above $99,000.
- Expanded unemployment benefits that boost the maximum benefit by $600 per week and provide laid-off workers their full pay for four months. Eligibility is extended to independent contractors and the self-employed.
- $367 billion in loans for small businesses