Latest coronavirus aid package includes checks for Americans. How much will you get?
Many North Carolinians will be receiving checks from the federal government in April as part of the latest coronavirus aid package agreed to in Congress.
The measure calls for checks of up to $1,200 per adult and $500 per child, depending on income levels. A family of four, for example, could receive $3,400.
The Republican-led Senate voted 96-0 in favor of the package late Wednesday night. North Carolina Sens. Richard Burr and Thom Tillis joined in the vote. The Democratic-controlled House is expected to approve the measure on Friday morning.
Treasury Secretary Steve Mnuchin, who helped negotiate the deal on behalf of the Trump administration, said checks could be sent out within three weeks.
“The whole idea of this one-time payment is to help people bridge the gap while we fight the virus,” Tillis said in remarks sent after the vote.
Burr called it “critical relief to anxious American families, workers and businesses” in a statement after the vote.
The median household income in North Carolina is $52,413, according to U.S. Census data.
Here’s how much you can get:
• $1,200 per adult (or $2,400 for individuals filing jointly)
• $500 per child
• The credit begins to phase out for people making $75,000 (or $150,000, if filing jointly), or $112,500 in the case of a head of household. It eventually reaches zero for individuals making more than $99,000 or married couples making more than $198,000.
The bill provides for one-time checks, but House Speaker Nancy Pelosi, a California Democrat, said Thursday morning that “I don’t think we’ve seen the end of direct payments.”
Here’s who is eligible:
• The bill says anyone who is not a “nonresident alien,” a dependent on someone else’s taxes or an estate or trust is eligible.
• It also includes retired Americans who receive Social Security.
• Tillis said “every individual in North Carolina who reported taxes in 2018, 2019, or revenue through Social Security, will be eligible.”
This story was originally published March 26, 2020 at 11:24 AM.