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13374232, some details
Posted by mista k5, Thu Mar-19-20 05:38 PM
People with no federal tax liability would get only $600.
^ does that mean if you get a refund or only people that are not required to file?

https://www.cnbc.com/2020/03/19/coronavirus-updates-senate-republicans-to-release-relief-bill.html

Cash payments of up to $1,200 would go to individuals, with up to $2,400 for couples. The sum would increase by $500 for every child. The check totals would start to phase out above $75,000 in adjusted gross income based on 2018 tax returns. People with no federal tax liability would get only $600.

It would extend the tax filing deadline to July 15 from April 15.

Under the legislation, corporations could delay estimated tax payments until Oct. 15. Employers and self-employed people could delay payroll taxes.

The bill allocates up to $50 billion for airlines, $8 billion for cargo air carriers, and $150 billion for other severely distressed businesses. The government has the right to “participate in the gains” of any business it lends money to.

For two years, no executive at a company receiving a business loan may make more than $425,000 in total compensation. Executives whose salary has already been determined through collective bargaining agreements may be exempt from that restriction.

Any company with less than 500 employees is entitled to a small business loan. The cap of that loan is either $10 million or the average of monthly payments. Businesses use the loan to pay for payroll including paid sick leave, salaries, mortgages, rent, utilities or other debt obligations.

The bill includes a range of measures to encourage the production of COVID-19 drug production and essential equipment such as masks and ventilators. It says all private health plans should cover testing without cost-sharing, and increases funding for community health centers. It also aims to spur the hiring of more health care professionals to fight the pandemic.