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Covid-19 Relief
American Middle Class

$1400, $600, $ 1200: Covid-19 Relief

The House of Representatives passed the $1.9 trillion stimulus bill last week.  The latest covid-19 relief did not get a lot of pushback in the House.   The Senate is now debating its main provisions such as checks to Americans, aid to state and local governments, jobless benefits enhancements, and more.

Direct payments to Americans will most likely phase out more quickly, but millions of individuals will get at least $1,400, including children.  The $1,400 will be the third installment of direct payment send to Americans since the pandemic. 

CARES Act-$1,200

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress and signed by President Trump on March 27, 2020.  The $2.2 trillion legislation is the largest economic relief bill in American history.

The economic impact payment provision provided up to $1,200 for individuals or $2,400 for married couples, and up to $500 for each qualified child.

A married couple with two kids with an adjusted income up to $150,000 received $3,400 from the CARES Act.

The Coronavirus Response and Relief Supplemental Appropriations Act-$600

Congress passed the Coronavirus Response and Relief Supplemental Appropriations Act on December 21. President Trump signed it into law one week later.  

Like the CARES Act, the law provided another round of economic impact payments of $600 per individual, including $600 per child dependent.

The hypothetical family above would receive another $2,400 in direct payments.

The American Rescue Plan- $1,400

The American Rescue Plan will limit the number of people who will get the economic impact payment, but millions of Americans will receive $1,400, including qualified dependent. 

The hypothetical family above will still be qualified for $5,600 in direct payments from the new economic relief bill.

Conclusion

A married couple with two kids with an adjusted income up to $150,000 will end getting $11,400 ($3,400 + $2,400 + $5,600*) once the American Rescue Plan becomes law.

The country is in the worst pandemic since 1918, 518k fellow Americans died, and more than 17 million people are out of work. The American Rescue Plan might not be the final stimulus package. 

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