New legislation has been introduced to give millions of Americans $2,000 per month during the coronavirus pandemic. Here are the eligibility requirements for this new proposed stimulus:
- Every American adult age 16 and older making less than $130,000 annually would receive at least $2,000 per month.
- Married couples earning less than $260,000 would receive at least $4,000 per month.
- Qualifying families with children will receive an additional $500 per child – families will receive funds for up to three children.
- For example, a married couple making under $260,000 with 3 kids would receive $5,500 per month.
- Those who had no earnings, were unemployed, or are currently unemployed would also be eligible.
- Those who were not eligible in 2019 or 2018 but would be eligible in 2020, could submit at least two consecutive months of paychecks to verify income eligibility.
- The Emergency Money for the People Act also expands the program to millions more Americans who were excluded from the CARES cash rebates – such as college students and adults with disabilities who are still claimed as a dependent. The individual will receive the payment and their parent or guardian will receive the dependent credit.
To learn more about this new proposed stimulus bill, please click here.