Do you qualify for the stimulus?

What did Congress just pass? The U.S. House of Representatives on Wednesday approved a $1.9 trillion COVID relief bill. The measure, called the “American Rescue Plan,” has been the top priority of President Joe Biden since he took office seven weeks ago. It was passed by Democratic majorities in the Senate and the House, with no votes from Republicans.

Opponents said the measure is too expensive, will add to the

federal deficit and might discourage people from working. Supporters said the historic COVID-19 pandemic and economic struggles, particularly of middle and low-income households who suffered job losses, call for major assistance from the federal government.

Biden is expected to sign the bill into law on Friday.

I heard everyone gets $1,400. Is that true?

It depends on how much you earn. The bill provides a direct payment of $1,400 for a single taxpayer, or $2,800 for a married couple who files jointly, and an additional $1,400 per dependent. So a family of four would receive $5,600. But not everyone gets the money. Married couples with adjusted gross incomes up to $150,000 a year are eligible for the full amount, and individuals with adjusted gross incomes up to $75,000 a year are eligible for the full amount.

Above that, the size of the payments is reduced for individuals earning between $75,000 and $80,000. And there are no payments for individuals earning above $80,000 a year. Similarly, there are partial payments for couples earning between $150,000 and $160,000, with no money for couples earning above $160,000.

How do I get the money?

To qualify for the payment, you must be a U.S. resident with a Social Security number. The IRS is expected to deposit the checks in people’s accounts by the end of this month. If you do not have direct deposit set up with the IRS for filing your taxes, the IRS will mail you a check. You do not need to apply or stand in line to receive the money.

Speaking at a news conference in Buffalo, New York on Tuesday, Senate Majority Leader Chuck Schumer said: “Middleclass Western New York households will be getting a $1,400 check in the mail in about two weeks. They should get them by the end of March, so it’ll be a nice Easter present for everybody.”

I remember hearing we would get $2,000.

The $1,400 is on top of $600 approved by a bill signed in December by former President Trump and passed with large bipartisan majorities. Biden and Democratic leaders have said that’s what they meant by $2,000.

Is there a calculator anywhere to help me figure this out?

Yes. Omni Calculator has put one up at its website. The address is www. omnicalculator.com/finance/american-rescueplan#who-is-eligible-forthe-stimulus-where-doyou-sign-up

I got laid off. What about unemployment? I heard there was money in the bill for that also.

Yes, in addition to unemployment benefits that people already are receiving through their state unemployment programs, this bill continues to expand unemployment benefits by $300 a week through Sept. 6.

What else is in there that could help me?

The bill provides $30 billion to help low-income households and the unemployed pay their rent and utility bills and $10 billion homeowners who are having difficulty making mortgage payments due to the pandemic.

There are also expanded tax credits for people with children, which economists say should reduce childhood poverty in the United States.

I heard there’s pork in the bill.

It depends how you define pork. The bill includes $46 billion to expand COVID-19 testing, along with $14 billion to expand vaccine programs nationwide. And there is $130 billion to help schools hire more nurses, buy masks and protective gear, improve ventilation systems and take other steps toward reopening.

The bill also has $25 billion for bars and restaurants that took big financial hits during the pandemic, and $350 billion to help cities, counties and states balance their budgets to prevent layoffs of police, firefighters, public works crews and other employees after tax revenues dropped sharply in many areas due to the pandemic.

Does it raise the minimum wage?

No. The House approved raising the minimum wage nationally to $15, but that provision, pushed by Sen. Bernie Sanders, D-Vermont, failed in the Senate. A separate bill to raise the minimum wage by a lower amount, perhaps to $11 or $12 nationally, is expected later this year. California’s minimum wage already is $12 an hour and required to rise to $15 under state law by 2023. lots of