The Federal government recently approved a $2 trillion economic stimulus package in response to the COVID-19 pandemic, in an effort to keep the US economy from slipping into recession.
Now that the stimulus has been passed and signed by President Trump, questions concerning who will get the stimulus, and how much they will receive have been asked by the public.
According to a story by the NY Times, shared by the Buffalo Chamber of Commerce, most individual Americans will get $1,200 each if they meet certain criteria. Couples without children will get $2,400 and those with children will get an additional $500 per child.
Again, certain criteria must be met.
One common misconception is that income taxes will have to be paid on the stimulus funds, and according to the article, that is not the case.
The stimulus funds are expected to be either sent by check, or by direct deposit within the next few weeks.
For the full detailed NY Times article, click here: