Senate Unanimously Passes 2.2 Trillion Stimulus Bill: Surviving COVID – 19

Senate Unanimously Passes 2.2 Trillion Stimulus Bill: Surviving COVID – 19

The Senate Just Unanimously Passes 2.2 Trillion Stimulus Bill. Most agree the House will follow suit with the President Signing as well. The bill includes:

$1,200 to every single adult earning $75K or less or for a couple filing jointly $150K or less. Also provided is a $500 credit for children who are 16 years old or less. Incomes will be based upon 2019 returns if filed and if not the 2018 return will be used.

Unemployment Insurance Benefits will increase by $600 extra per week for four months and coverage extended to 39 weeks.

Zero interest loans to companies who spend proceeds on payroll, rent & utilities which even might be forgiven if you keep your workforce intact.

It was announced taxpayers can defer their 2019 IRS income tax payments by up to 90 days.

These are just outlines of the proposed changes with more to come.