News Who will receive $ 1,200? The details of the...

Who will receive $ 1,200? The details of the US stimulus package

Washington, United States.

The economic impact of coronavirus it is already a fact in the US, where millions of people have lost their jobs (3.28 million in the last week alone); For this reason, the Senate approved on Wednesday a stimulus plan that contemplates giving 1,200 dollars to many Americans or increasing the usual unemployment benefits, among other measures.

Even so, this economic stimulus plan designed to alleviate the effects of coronavirus, which with a total cost of 2.2 trillion dollars, the highest in the history of the country, must still be approved by the Lower House and signed by the president, Donald trump, who has already assured that he will ratify it as soon as he arrives at his table.

WHO WILL RECEIVE THE PAYMENT OF 1,200 DOLLARS?

The proposal includes an item of about $ 250 billion that will be reserved for a direct payment of $ 1,200 to individuals who have an income of less than $ 75,000 a year, plus $ 500 per child of 16 years or less who is their position.

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Still, people who earn more will also receive one of these grants: Childless couples earning $ 150,000 or less will receive $ 2,400, and households with incomes below $ 112,500 annually will benefit from the maximum of 1,200.

The total amount of the benefit that citizens receive is progressively reduced to a limit of $ 99,000 in individual taxpayers and 198,000 in marriages.

The Government has already announced that it will automatically transfer this money within three weeks after the final approval of the measure.

HOW MUCH DOES THOSE WHO HAVE LOST THEIR JOB DUE TO COVID-19?

This financial aid package establishes another 250,000 million federal funds to expand unemployment insurance benefits, which will be used to complement the unemployment benefit provided by each state by $ 600 per month.

Read More: New York deaths from coronavirus rise to 385, one hundred in one day

Employees by a third party, self-employed workers and part-time workers may benefit from this extra help.

In addition, those with symptoms or diagnosed with the COVID-19, people who must stop working to take care of a relative and workers who are unable to carry out their tasks because they have been forced to quarantine.

The total money received will vary according to the generosity of the state in which you reside, since not all regions contemplate the same unemployment benefit, but the $ 600 contributed by the federal government will not vary.

PAUSE IN PAYMENT OF FEDERAL LOANS FOR UNIVERSITY STUDENTS

According to the Department of Education, in 2017 the average cost per university academic year in the country was $ 40,925, so many Americans go into great debt to pay for their studies.

Read More: Coronavirus in Spain: “people are dying who could be saved,” say health

The loss of employment and the reduction in income presents many citizens with the challenge of paying these debts, so the plan contemplates a moratorium until September 30, 2020 in the payment of loans, as long as they are credits granted by the federal government.

This does not affect loans not issued by institutions of the Department of Education, such as those that depend on the states or those that are due to pay to private finance companies or banks.

AID FOR THE SANITARY SYSTEM, LOCAL AUTHORITIES AND COMPANIES

The economic stimulus package approved by the Upper House also has 350,000 million in loans for small businesses.

It also includes a fund of 500,000 million in loans for companies in difficulties, such as the airline, hotel or cruise sectors.

Read More: France evacuates patients from the region most affected by the coronavirus by high-speed train

In addition, the plan grants $ 150 billion to support local and state authorities, and another $ 130 billion to strengthen the health system, which in some places, such as New York State, is beginning to be saturated.

Coronavirus in the United States

In the United States, the number of deaths due to the coronavirus exceeded 1,000 cases on Thursday, with New York as the most affected area, while the confirmed cases are already close to 70,000, making the country the third in the world in number of infections, only behind China and Italy, according to private accounts.

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