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.
