How you will be affected by the federal stimulus package
By JOSH RESNEK
With the economy in a recession and millions of unemployed being added to the total each week, the Senate and the House are racing to complete a Stimulus package that reach the president’s desk for his signature at post haste speed.
What can Everett residents and businessmen and women expect?
First, despite all the rhetoric about what the Republicans want versus what the Democrats want is to know this: the bill will get done and it will be signed sooner rather than later – right on the cusp of the end of July and the beginning of August.
Everyone who received a $1,200 stimulus check the last time will receive them again.
The sooner the bill is agreed upon and the sooner the president signs it, the sooner the funds will be released by the Treasury to Americans.
Predictions range from around August 14 to August 24.
The stipulations for receiving the $1,200 have not changed. All individuals making $75,000 or less will receive a check.
Those earning $99,000 or more will not receive a check.
Children living in the home will receive $500 each. Unemployment remains a debated question between the Republicans in the Senate and the Democratic House members.
The Democrats want to continue the $600 a week added payment to those on unemployment here and around the nation.
The Republicans are wanting to cut that benefit claiming many are earning more than they did while working and further claiming that payment is a disincentive to going back to work.
However, those who are on unemployment understand that going back to work in businesses that cannot support themselves makes going back to work futile.
Leading economists agree that the added $600 is one of the major supports giving some strength to the economy while it struggles to come back.
The government is also trying to give unemployed workers cash incentives to go back to work and additional paycheck protection payments to businesses struggling to get going again to take employees back.