WASHINGTON — Unveiling the second major stimulus bill of the pandemic, Congress on Monday approved a $900 billion package aimed at addressing the needs of millions of Americans who have been forced to weather the effects of the coronavirus for months even as many existing federal aid programs ran thin or expired. The new agreement extends some parts of the CARES Act, the $2.2 trillion stimulus law passed in March, and borrows others with modifications and reductions. The full text of the legislation, spanning almost 5,600 pages, was passed by the House and Senate soon after it was released. Individual paymentsAmong the most anticipated components of the legislation is the direct payments, with $600 going to individual adults with adjusted gross income of up to $75,000 a year based on 2019 earnings. Heads of households who earn up to $112,500 and a couple (or someone whose spouse died in 2020) who make up to $150,000 a year would get twice that amount.

Source: New York Times December 22, 2020 22:52 UTC