Historic $2 Trillion Stimulus Package Passes the House of Representatives

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Friday, the House of Representatives approved a historic $2 trillion stimulus package that passed the Senate earlier this week. The bill now goes to President Donald Trump for his signature as the public and the economy fight the spread of Covid-19.

The centerpiece of the stimulus package is that it will provide direct financial assistance to Americans in the form of checks. Individuals who earn $75,000 or less would get direct payments of $1,200 each, with married couples that earn up to $150,000 receiving $2,400 with an additional $500 per each child.

The payment would scale down by income, phasing out entirely at $99,000 for singles and $198,000 for couples without children.

In addition, the bill would provide billions of dollars in aid to hard-hit hospitals and for state and local governments that are cash-strapped due to their response to coronavirus.

Source: CNN

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