After months of failed negotiations, Congress has agreed to a $900 billion stimulus deal as the U.S continues to try to stay afloat from the pandemic fallout.
The relief package, signed by Trump Sunday night, will be available for people earning under $75,000 and are to receive $600 stimulus payments, while more than $284 billion has been set up for businesses. It comes as a number of aid programs are set to expire by next week, including Unemployment benefits and as the U.S. coronavirus death toll hits a devastating 315,000.
Treasury Secretary Steven Mnuchin said Monday the first batch of payments could go out at the beginning of next week. That is faster than in the spring, where it took about two weeks after the legislation was signed.
The first batches may also be larger than in the spring. That is because the government now has more information about groups that got later payments in the first round, including those who typically don’t file tax returns and those who receive federal benefits. Those who receive paper checks instead of direct deposits will have to wait longer.
As far as Unemployment goes, Unemployed workers would get an extra 11 weeks of jobless benefits and a $300 weekly enhancement to aid payments as part of a Covid relief deal Congress reached Sunday.
Certain self-employed and gig workers would also get an extra $100 a week, according to a document summarizing the legislation.
The final vote on the exact amount and timeline are expected today.
Writer: Kacee Marie
Instagram: @iamkaceemarie
