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How much are the stimulus payments and who will get them?

By FOX 5 NY Staff
Updated  December 21, 2020 9:00am EST
U.S.
FOX 5 NY

Pandemic relief bill

The U.S. Congress is poised to pass another round of coronavirus economic stimulus legislation. So what is in this bill?

NEW YORK - Congress is expected to pass a $900 billion COVID relief bill that includes another round of stimulus checks for most Americans after top negotiators reached a deal over the weekend.

The direct payments are set to be $600. That's half of the amount that was provided in the first round of checks that went out in March.

The payments are subject to the same income limits as last time. That means people who make more than $75,000 will get less, or even nothing, depending on their full income. The threshold for married couples is $150,000.

Taxpayers will not have to pay the stimulus money back and it will not be taxed as income. The money is expected to show as a credit on your 2020 tax return.

The bill also includes a $300 per week bonus jobless benefit. That is also one half the supplemental federal unemployment benefit provided under the $1.8 billion CARES Act in March. It is also limited to 11 weeks instead of 16 weeks in the original relief package from earlier this year. 

Stimulus deal

Congress appears to be ready for another relief package to combat the economic problems associated with the coronavirus pandemic.