A new bill could give every American a monthly $2,000 payment for six months.
As the CARES stimulus package may have help people affected by COVID-19, a new bill might expand the help if approved.
The bill would provide for the issuance of emergency monthly payments to every American throughout the duration of the coronavirus crisis to be provided by the Department of Treasury, in consultation with other Federal and State agencies. Introduced by Representatives Ro Khanna (D-CA) and Tim Ryan (D-OH), the proposal outlines what could be a future stimulus for Americans that amounts to a monthly recurring payment rather than a one-time payment.
The bill will give every American adult age 16 and older who makes less than $130,000 a year would receive at least $2,000 per month for at least six months. The payments would continue until unemployment fell below pre-COVID-19 levels.
Married couples who earn less than $260,000 a year would receive $4,000 per month. Qualifying families with children will receive an extra $500 per child for up to three children.
Those who had no earnings, were unemployed, or currently unemployed would be eligible and if you were not eligible based on 2018 or 2019 tax information but would be eligible based on 2020 information, people could submit two consecutive months of paychecks to verify your eligibility based on income.
And most notably, those who were claimed as a dependent on another tax return but would otherwise be eligible, are now eligible. The parent or guardian who claimed them on a tax return would also receive the $500 dependent credit.
Pelosi mentioned in a letter to Democrats that this sad and urgent time, there is an immediate need for additional funding for hospitals, testing, personal protective equipment, and more support for workers on the frontline. Pelosi added “our lives and well-being are threatened if health care, police, EMS, teachers and other essential workers are let go. These vital workers need our help now.”
“I am pleased to report that we have been engaged in bipartisan negotiations on our interim legislation and our progress is encouraging.” Pelosi said, “We are also working on CARES 2 to prepare for the path ahead to support the lives and livelihoods of the American people. It is recognized that the key to opening our economy is testing, treatment, contact tracing, and quarantine.”
Pelosi said that it is self-evident that America’s heart is full of love.
“Let us be worthy of the American people’s generosity of spirit.”