BATON ROUGE, La. (BR Proud) — Congress agreed on a $900 billion coronavirus stimulus bill Sunday night and it includes individual $600 stimulus payments for certain Americans.
Direct payments of $600 will be made to individuals who earn up $75,000 (or $112,500 as head of household). Married couples who file jointly and earn up to $150,000 are also eligible.
For every $100 earned over the above-mentioned income thresholds, payments will be reduced by $5, up to a specified maximum income, phasing out completely at $87,000 for individuals and $174,000 for couples.
Not only will eligible adults receive $600, but $600 will also be paid for each child dependent.
This means that a family of four will potentially receive $2,400, depending on whether they meet the income requirements.
Americans will start seeing the $600 stimulus checks in their bank accounts as early as next week, according to Treasury Secretary Steven Mnuchin.