House Passes $900 Billion Covid-19 Package, $600 Payments May Hit Next Week

Merry Christmas, America.

The House of Representatives has officially authorized $900 billion in coronavirus relief spending. The money will provide:

• $600 in federal checks for many Americans, plus additional $600 for dependents
• An extension of $300 per week federal unemployment benefits.

The bill now heads to the Senate where it is expected to pass with strong bipartisan support.

The payments will be income-based and will phase out for individuals with incomes greater than $75,000 or couples with incomes higher than $150,000.

According to Treasury Secretary Steven Mnuchin, the first electronic payments could hit individuals’ bank accounts as early as next week.