Under an economic stimulus package released by Senate Republicans on Thursday, certain Americans would receive individual checks from the federal government to counteract the strain that the coronavirus pandemic has placed on millions of American workers.
An individual who made up to $99,000 and couples who made up to $198,000 on their 2018 tax returns would be eligible to receive tax rebate checks. Families with child would receive more.
The 247-page proposal was drafted by Senate Republicans in consultation with the White House. Now, both groups will need to work with Senate and House Democrats to strike a deal that can muster enough support to pass Congress and land on the president’s desk.
Here’s who qualifies and how much you would receive:
Less than $75,000: $1,200 check.
More than $75,000: “the rebate amount is reduced by $5 for each $100 a taxpayer’s income exceeds the phase-out threshold” up to $99,000, the plan states.
Married couples who filed a joint return
Less than $150,000: $2,400 check.
More than $150,000: “the rebate amount is reduced by $5 for each $100 a taxpayer’s income exceeds the phase-out threshold” up to $198,000, the proposal says.
For each child, the amount received will be increased by $500.
This is a breaking news story and will be updated with additional information.