With the coronavirus pandemic turning people’s lives upside down whether they’re infected, stuck at home, or out of work, there’s finally a silver lining.
The U.S. government approved a $2 trillion rescue fund to help cash strapped Americans and hopefully provide a bit of a jolt to the struggling economy. Some of the money will, of course, go to big businesses but a lot of it will be given to those who really need it. Individuals are expected to receive checks of $1,200 and married couples to get $2,400 with an additional $500 per child.
With 80% of Americans supposedly being eligible for the deposit, there are some restrictions. To qualify, a single person must make $75,000 or less, and that number doubles to $150,000 for married couples. If those affected make more than that, the chance to see any sort of relief begins to lessen. The payments are a one-time thing, despite Twitter complaining and hoping that it’d be monthly. However, it is possible the stimulus package won’t be the last–especially with people in such dire needs.
The Washington Post developed a calculator for you to figure out how much you could receive within the next few weeks, via direct deposit or a hard check.
Elsewhere in that mind-boggling $2 trillion package is $500 billion dedicated to helping struggling industries like airlines. But those businesses will be watched over so that they don’t attempt to buy back their own stocks in hopes to make the prices skyrocket and allow them to be flushed with cash while others still struggle.
The biggest industry being hit by the coronavirus is the health care industry, so they’ll get a total of $100 billion. Professionals are running out of Proper protective equipment, hospital beds, and ventilators as thousands of doctors and nurses come out of retirement to help.