The House of representatives on Friday passed the largest aid measure in American history, a $2 trillion stimulus package that President Donald Trump signed into law. Direct payments will be made to Americans to help offset financial hardships incurred during the coronavirus pandemic.
The coronavirus outbreak has quickly evolved from a health crisis to a financial one, shuttering businesses, upending entire industries and whipsawing financial markets, erasing trillions of dollars in the process.
Kristalina Georgieva, managing director of the International Monetary Fund, said at a briefing Friday that the organization, which represents more than 189 countries, is projecting a recession for 2020.
Measures taken in the U.S. hopefully can offset part of that. Here are some of the highlights of the U.S. stimulus package.
Up to 90% of Americans would be eligible to receive full or partial payments, according to estimates by the Tax Policy Center
Those earning up to $75,000 in adjusted gross income will receive $1,200. Married couples could earn up to $150,000 and receive $2,400
ABC Los Angeles, California, station KABC created a calculator to help show how much each individual may receive. According to the calculator, an individual whose most recent tax filing was "married filing jointly," claimed two children under 17 as dependents and has a most recent adjusted gross annual income of $85,000 could expect to receive $3,400.