President Donald Trump signed off an $2 Trillion for the American public and the US economy. Since the spread of Covid-19, American workers and small business owners have been experiencing financial disruption. Earlier today the House of Representatives approved the bill.
Individuals who earn $75,000 in adjusted gross income or less would get direct payments of $1,200 each, with married couples earning up to $150,000 receiving $2,400 — and an additional $500 per each child.
The payment would scale down by income, (any single person that earn more more than $75,000 payment would be reduced by $5 for every $100. Phasing out entirely at $99,000 for singles and $198,000 for couples without children.
Although this is great news, it seems like a setup – receive it, spend it and give it right back!