NEW ORLEANS —
This stimulus package is huge. In fact, it's the largest in U.S. history at over 2 trillion dollars.
$290 billion will go to people who have been hit financially due to the economic impacts of the corona-virus.
Single people could get as much as $1,200 if they make $75,000 or less a year.
Couples may get as much as $2,400, if they earn less than $150,000.
Parents will also get a $500 payment for each of their children, but only kids who haven't yet turned 17 are eligible.
Incomes used to determine who qualifies for aid are based on adjusted gross income.
According to CBS News, single taxpayers with an adjusted gross income of above $75,000 will receive smaller checks, with a $5 reductions for every $100 above $75,000.
That's a lot of math, so here is an example. If your adjusted gross income is $80,000, your check would be reduced by $250 dollars.
The government will base its checks on either your 2019 or 2018 tax filing, depending on if you've filed for last year yet.
The White House says funds will come in three weeks through direct deposit, or by check.
The stimulus package also has $350 billion for small business loans. Some of the loans may be forgiven if businesses continue to employ and pay their workers.
How long it will take to get those checks to businesses is not yet known.
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