Congress, White House Reach Deal On $2 Trillion Stimulus Bill
SACRAMENTO (CBS13) — Help for Americans suffering financially during the coronavirus crisis should finally be on the way.
Congressional leaders and the White House reached a deal on the coronavirus relief package early Wednesday morning.
The re-vamped proposal will inject about $2 trillion into the economy in the form of tax rebates, unemployment benefits, small business loans, and a one-time check of $1,200 for Americans who make less than $75,000 a year.
Local Congressman John Garamendi says he expects checks to be in the mail a few days after President Trump signs it.
"Those checks everyone has been talking about should be available in a few days thereafter either direct deposit or if the IRS can figure out how to write a check rather than take a check," Garamendi said.
As it stands right now: each individual taxpayer would get $1,200, couples would get $2,400, and families would also get $500 for each child. According to Garamendi, individuals making less than $75,000 a year and couples making $150,000 or less would get the full amount. If you make more than those amounts, you could still get a check, just for less money.