A new coronavirus stimulus relief package has been announced for Americans where Families would receive $500 per child.
White House officials announced this on Wednesday as the unprecedented package hit a snag in Congress.
Also in the package, Americans will receive a $1,200 check in about three weeks as part of the $2 trillion coronavirus stimulus relief bill.
Americans earning less than $75,000 a year would receive a check for $1,200, or couples earning less than $150,000 would receive a check for $2,400. Families would receive $500 per child.
Checks will be reduced by $5 for every $100 exceeding those thresholds. It completely phases out at $99,000 in income for individuals, $146,500 for head of household filers with one child and $198,000 for joint filers with no children.
Treasury Secretary Steven Mnuchin said;
“We couldn’t be more pleased with the unprecedented response from the Senate to protect American workers and American business in this situation. This is going to be an enormous help for the American workers and the American economy.”
Similarly, Canada’s Prime Minister, Justin Trudeau has announced new financial measures to help Canadians affected by the coronavirus pandemic.
Workers who lost their income as a result of the COVID-19 pandemic, people who are quarantined, caring for someone with COVID-19 and parents who have to stay home to take care of their kids will be given $2,000 a month for up to four months through the Canada Emergency Response Benefit (CERB).
The new system replaces the Emergency Care Benefit and the Emergency Support Benefit to streamline benefits for those whose qualify for Employment Insurance (EI) and those who don’t, after over a million people applied for the old program last week.
Trudeau said during a news conference;
“Families are worried about when they’ll get help. It can be hard to get through on the line, and that is frustrating.
“Public servants are working around the clock, while dealing with unprecedented demand and all of the same personal stress everyone else is facing. They will get to your application.”