Senate Stimulus Deal Includes Individual Checks — But Don’t Expect The Money Until At Least May

Lawmakers struck a $2 trillion stimulus deal early Wednesday that includes sending checks directly to individuals amid the coronavirus crisis — but it will likely take until at least May before the money goes out. Under the plan as it was being negotiated, single Americans would receive $1,200, married couples would get $2,400, and parents would see $500 for each child under age 17. However, the payments would start to phase out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 would not qualify at all. The thresholds are doubled for couples. About 90% of Americans would be eligible to receive full or partial payments, according to estimates by the Tax Policy Center. Lawmakers set aside $250 billion for the so-called recovery rebates. Read more at CNN.