How the Coronavirus Stimulus Package will help you

Curated By Shawna Armstrong

Wondering exactly how this bill will impact you in short?  Axios has summarized how the stimulus will help you, your company, your medical community and more. 

  • All individuals earning up to $75K and couples earning up to $150K will receive direct payments.
  • You can use up to $100K of your 401K for coronavirus related expenses with no withdrawal penalty
  • Small companies (under 500 employees) will receive 8 weeks of cash-flow to cover payroll, mortgage interest, rent, and utilities.  If they do not lay-off, they do not have to pay it back.
  • If you have lost your job, the bill will pay you an additional $600/week on top of state unemployment benefits and also extends the benefit to self-employed, independent contractors and gig economy workers  (though it’s not clear yet exactly how the math of these benefits will be applied)

Read more from Axios here, and also find a link to the full 883 pages

Stay home, wash your hands and pray for the sick.

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