Tags: Coronavirus | Financial Markets | Money | stimulus | democrats | payments | economic

Dems' Stimulus Plan Would Pay $1,500 Per Person

Stimulus American economic tax return check with US flag and USA dollar cash banknote
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By    |   Monday, 23 March 2020 10:31 PM

The House Democratic stimulus proposal includes a $1,500 per person cash payment, capping at $7,500 per family, The Hill reports.

Individuals who earn more that $75,000 a year and married couples who earn more than $150,000 would have to pay some or all of the money back, but could opt to pay it back over a three-year period.

The money would be distributed by direct deposit by the IRS and the Social Security Administration.

Draft versions of the bill contain larger payments for lower income individuals, but those figures are not in the version that was introduced, The Hill reported.

Republicans have introduced a similar plan with smaller payments. Their play would pay adults $1,200 each and provide $500 per child.

Phase-out limits are similar to those Democrats propose.

The stimulus is intended to aid those affected by the coronavirus cirises and pump money back into the ailing economy.

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Republicans have introduced a similar plan with smaller payments. Their play would pay adults $1,200 each and provide $500 per child.
stimulus, democrats, payments, economic, pandemic, workers, jobs
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2020-31-23
Monday, 23 March 2020 10:31 PM
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