CHARLOTTE – There are lots of questions about the $1.9 Trillion Dollar Bill that passed both House and Senate. So, let’s get to it…

Here are the major pieces:

• It extends the $300 per week jobless aid supplement and programs which will make millions of more people eligible for unemployment insurance until Sept. 6, 2021. The plan also makes an individual’s first $10,200 in jobless benefits tax-free.
• This bill will provide $1,400 of direct payments to most Americans and their dependents. The checks will start to phase out at $75,000 in income for individuals and are capped at people who make $80,000. The thresholds for joint filers are double those limits. The government will base eligibility on Americans’ most recent filed tax returns. So, make your appointment today if you haven’t filed yet!!
• The bill will expand the child tax credit for one year. It will increase to $3,600 for children under 6 and to $3,000 for kids between 6 and “17”. Normally, the phase-out is 16!
• The plan puts about $20 billion into Covid-19 vaccine manufacturing and distribution, along with roughly $50 billion into testing and contact tracing. Wearing a mask will assist in the spreading of COVID. (CDC)
• This bill will add $25 billion in rental and utility assistance and about $10 billion for mortgage aid. Help is on the way, but you must apply for assistance.
• The plan will offer $350 billion in relief to state, local and tribal governments.
• The proposal will direct more than $120 billion to K-12 schools. This should ensure a safer return to the classroom.
• It will also increase the Supplemental Nutrition Assistance Program benefit by 15% through September.
• The bill includes a much-needed expansion of subsidies and other provisions to help Americans afford health insurance.
• The offers include nearly $30 billion in aid to restaurants.
• Most importantly the legislation will expand the employee retention tax credit designed to allow companies to keep workers on payroll.

My Fellow American’s, Help is on the way!!!

Source: https://www.cnbc.com/2021/03/10/stimulus-update-house-passes-1point9-trillion-covid-relief-bill-sends-to-biden.html

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