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Not everyone is going to be getting a $1000 stimulus check from the government. Will you qualify to receive a stimulus check from the Treasury Department during the coronavirus pandemic?
One pressing question on many Americans’ minds is: Am I actually eligible to receive a stimulus check from the government as proposed by the Treasury Department?
Senate Republicans unveiled the plan on Thursday night. They revealed that the checks will be based on income, and that each person could receive up to $1,200.
Related: $1000 Coronavirus Checks Coming Soon to US Citizens
Under the plan, individuals making up to $75,000 a year will be eligible for a $1,200 check from the federal government, and the cash will be delivered in a one-time payment. If you’re part of a married couple who files their taxes jointly, you’ll have to make less than $150,000 to qualify for a payment of $2,400.
For people who earn more than $75,000 annually, the payment will fall by $5 for each $100 you earn over that amount. The payment will phase out entirely for those who make more than $99,000 each year.
Married couples making more than $150,000 will also see their payment declining gradually, phasing out completely for a combined income of $198,000. Furthermore, taxpayers who have little to no income tax liability, but at least $2,500 in qualifying income will see their checks reduced to $600, or $1,200 for married couples.
Related: National Parks Waiving Entry Fees to Help People Stay Socially Distant
Couples and individuals with children can expect to be eligible for an additional $500 for each child in their home.
Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said in a statement,
“These recommendations would blunt the impact for most Americans and limit the damage to the U.S. economy. These recommendations won’t be the end of the congressional response to the coronavirus.”
The government will review 2018 tax returns to determine what income levels to base the cash payout determinations on.
Paying the bills has already been a monthly struggle for many, including 70-year-old grandmother Susi, who lives in Oklahoma.
As she is unable to afford retirement, Susi works as a substitute teacher. And with schools closing down across the country, she and others are finding themselves without a critical source of income.
“There’s no relief in sight,” said Susi. “I’m single and have no help with my bills, so I am anxious to find out if we really are going to receive this help, how much, when and how.”
The stimulus checks from the government may provide at least short-term relief for many across the United States. When people would normally worry about financial issues like finding the cheapest phone plans, they’re now more worried about whether they need to find a job that allows work from home.
