How relief from Congress affects you, economy

Stock futures halted for trading as investors await stimulus bill

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The Senate reached a deal on a sweeping $2 trillion stimulus package Wednesday that extends an extraordinary lifeline to Americans in virtually every circumstance who have been affected by the coronavirus – workers, the unemployed, the self-employed and contractors.

Meanwhile, businesses large and small would receive hundreds of billions of dollars in financial assistance in the hope that they’ll avoid shutting down or having to lay off employees.

While the Senate is expected to pass the bill Wednesday, a House vote will come later and many details are still in flux. Based on what we know now, here’s how the historic legislation would affect you and the economy.

How much money would you get?

Under the latest proposal, adults would receive a lump-sum check of up to $1,200 ($2,400 for joint tax returns), and those with little or no tax liability would get at least $600 ($1,200 for joint returns). Families would receive an additional $500 for each qualifying child.

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By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.