Heroes Act: Second Stimulus Bill

Please read the quick summary of some highlights of the HEROES Act, signed by President Trump December 27, 2020.

Additional round of stimulus checks, more restrictive criteria

• Individuals making up to $75,000 a year will receive a payment of $600, while couples making up to $150,000 will receive $1,200, in addition to $600 per child. 2019 taxes will be used to certify individual’s eligibility, adult dependents and most college-age dependents will also miss out on this stimulus check. This round of stimulus checks will not start going out until January 15, 2021. As of December 29, House Democrats have passed a bill increasing the stimulus check to $2,000 but has not been approved by the Senate.

Federal unemployment assistance

• Jobless workers will get an extra $300 per week in federal cash through March 14. The legislation also extends employment benefits to self-employed individuals, gig workers and those who’ve exhausted their state benefits.

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