Press "Enter" to skip to content
Advertisements

US Citizen to receive $1,200, Canadians to receive $2,000 as stimulus against coronavirus outbreak

Washington DC have announced that Taxpayers would receive a check of up to $1,200 from the government, but lower earners would get less as part of the $2 trillion coronavirus stimulus relief bill,

Taxpayers who made less than $75,000 in adjusted gross income in 2018 would receive a check for between $600 and $1,200.

Married taxpayers who filed jointly and made less than $150,000 combined would receive between $1,200 and $2,400. The Senate proposal would also provide an extra $500 for each child.

The Trump administration is in talks with Senate Republicans on a rescue package that will likely include some version of most of what the Treasury proposed.

People who earned too little to owe income tax would receive $600 as long as they had at least $2,500 in qualifying income. The checks would phase out for people earning $99,000 or more.

Small businesses would get loans up to $10 million each, and big corporations would get temporary tax cuts,while,Airlines and other major industries would get more than $200 billion in loans.

On other hand, Canada has almost doubled the value of an aid package to help people and businesses deal with losses from the coronavirus outbreak,Finance Minister Bill Morneau said.

The package is worth C$52 billion ($36.62 billion), up from an initial C$27 billion outlined last week.

Prime Minister Justin Trudeau said, the aid package will give people affected by the outbreak C$2,000 a month and delay student loan repayments, among other measures to boost the economy through the Canada Emergency Response Benefit (CERB).

Canadians who are out of work because of the coronavirus pandemic will be eligible for up to CAN$2,000 ($1,399) a month for four months.

The measures are being taken as Canada reported 2,851 COVID-19 cases and 29 deaths Wednesday, while 185 have recovered. Canada is performing 10,000 tests daily,

“Families are worried about when they’ll get help. It can be hard to get through on the line, and that is frustrating.

“Public servants are working around the clock, while dealing with unprecedented demand and all of the same personal stress everyone else is facing. They will get to your application.”\

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *