The Senate passed a massive $2 trillion coronavirus stimulus compromise package just before midnight on Wednesday, ending days of deadlock and sending the bill to the House of Representatives, where House Speaker Nancy Pelosi has said there will soon be a “good debate on the floor” over the historic measure to bring relief to individuals, small businesses, and larger corporations.
The text of the bill, obtained by Fox News, would provide one-time direct payments to Americans of $1,200 per adult making up to $75,000 a year, and $2,400 to a married couple making up to $150,000, with $500 payments per child . After $75,000 for individuals, the benefit would be reduced by $5 for each $100 the taxpayer makes, per Page 145 of the bill. A $150,000 limitation applies to couples, and a $112,500 limit for heads of households.
The legislation passed by the Senate will use 2019 tax returns, if available, or 2018 tax returns to assess income for determining how much direct financial aid individuals receive. Those who did not file tax returns can use a Form SSA-1099, Social Security Benefit Statement or Form RRB-1099, a Social Security Equivalent Benefit Statement, per Page 149 of the bill.
The bill omits many — but not all — items from Pelosi’s version of the legislation that Republicans had called wasteful or irrelevant, including climate-change related emissions restrictions for airlines and various diversity-related provisions.
But, the John F. Kennedy Center for the Performing Arts in Washington, D.C. and the House of Representatives would still each receive $25 million, and unions will likely benefit from provisions requiring many small businesses to stay out of union organization efforts. Those provisions galled conservatives when Pelosi first floated them over the weekend, but President Trump signaled earlier in the day that they amounted to necessary compromises to move the bill along.
House Majority Leader Steny Hoyer, D-Md., said the House would vote on the matter on Friday.
Read and see the video at: Will House Vote