Financial relief

Mar 19

Written By LEX OMNI

Checks to Americans

Individual - $1,200 to individual making less than $75,000 annually
Married couples - $2,400 for eligible married couples making less than $150,000 combined, with an additional $500 for every child
money is reduced by $5 for every $100 that a person earns over $75,000; once a threshold of more than $99,000 is reached the payment is reduced to 0
Income levels, marital status, and number of children would be based on 2018 tax filings

Loans to businesses:

Retirement funds:

Waiver of penalties on withdrawals up to $100,000 for coronavirus related purposes from qualified retirement accounts

Education loans:

Student loan payments deferral
Allows students who were forced to drop out of school due to coronavirus to keep their Pell grants.
Gives colleges and universities flexibility to continue work-study payments to students who cannot work due to coronavirus closures.

Treasury Secretary Steven Mnuchin said Tuesday that the Trump administration wants to get emergency funds in Americans’ pockets “immediately” amid the coronavirus crisis.
“Americans need cash now,” Mnuchin said during a White House press briefing on the administration’s latest efforts to combat the disease. “I mean now in the next two weeks.”
Mnuchin said that an idea of the administration’s plan will come into focus by “the end of the day” Tuesday.
He added that the U.S. is unlikely to send checks to millionaires.
“I think it’s clear, We don’t need to send people who make a million dollars a year checks,” Mnuchin said. “I think we’re going to do something that gets money to them as quickly as possible. That may not be an accurate way of doing it. Some people obviously shouldn’t be getting a check for $1,000 but we’ll have an idea at the end of the day of what we will be doing.”

SBA loans