Speaker Nancy Pelosi vowed Thursday that the massive $2.2 trillion Coronavirus relief bill will pass quickly through the lower chamber on Friday "with a strong bipartisan vote." Its expected that President Trump will sign the bill immediately.
Here is what you need to know:
Anyone who earns less than $75,000 will be eligible for a one-time payment of $1,200, or $2,400 for couples who file jointly and earn less than $150,000. An additional $500 will be paid for each child in the household - so a family four would get $3,400.
Those who earn more than $75k per year will get decreased payments, down to zero for those who earn more than $99k.
When will we get our money?
Within three weeks, according to Treasury Secretary Steven Mnuchin. As long as the IRS has your information, you won't need to apply or fill out any forms to get your payment.
How will you get your money?
If the IRS has your direct deposit information, you'll get it that way. Otherwise, a check will be sent to whatever address the IRS has on file.
Any more questions? The Treasury Department promises to have more information available soon.
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