Last week, the House and Senate passed a massive $2 trillion stimulus bill to try and help the US economy. With 3 million workers filing for unemployment and many businesses needing to close for a while, the money should do something to help many.
Easy Calculator to Show What You Get from the Stimulus Package
Of course, in that same stimulus package was also aid for many businesses in a variety of forms, including loans. These amounts will go to airlines, hospitals, hotels, and many more industries to aid during this difficult time. As for the airlines, you have likely gotten a “thank you” note from some of the US airline CEOs by now. Their loans and grants do not mean they will not be laying people off, unfortunately.
Then we have the money that is heading to taxpayers as early as the next couple of weeks. If you filed taxes in 2018 or 2019 and are a US resident with a social security number, you could be getting some of the money from the stimulus package. How much will be determined by what you filed as your adjusted gross income for the recent tax years.
While it seemed to be a fairly straightforward process, there is a phasing out period once you get past the initial income cap for single filers, heads of household, and joint filers. Then, you have the additional money for children under the age of 16 as well.
Fortunately, some smart people put together a truly simple calculator that will show you in a flash what you should expect to get from the stimulus package.
Just put your numbers in below to the calculator to get your amount!
This calculator was developed by Maciej Kowalski, PhD candidate and Jasmine J Mah and available at Omni Calculator