Many Americans have been struggling economically from the effects of the pandemic. A loss of jobs, newfound debt, healthcare issues, and more complications have resulted in a significant problem for millions in the past year. To provide relief, the US government plans to deliver a nationwide stimulus package in order to assist with such economic hardships. In total, the package will be around $1.9 trillion dollars, which is to be divided up and delivered to American citizens. Direct payments of $1,400 will go to:
Individuals with an income of up to $75,000
Heads of household with an income of up to $112,500
Married couples who together have an income of up to $150,000
With this money, it is expected that citizens will spend it on necessities. For instance, medication, repairs, etc. These checks may be the light at the end of the tunnel for those who are drowning in debt and have no other means of obtaining money.
It is important to keep in mind that these checks are not meant to replace an income. It is extra support for those who may be falling behind on monthly payments.
Written by Brian Caballo