(WWLP) – The Senate passed the American Rescue Plan over the weekend but there are still a few more steps before it’s signed by the President and American families and businesses see stimulus relief.
People who make less than $75,000 per year will receive payments of $1,400 per person and for each dependent.
The altered bill still needs approval from the House after the Senate made amendments. In the Senate bill, no one earning more than $80,000 qualifies for checks.
The Senate bill also includes a provision to make any student loan forgiveness passed between December 31, 2020, and January 1 2026 debt-free rather than treating it as taxable income.
The Senate bill extends federal unemployment supplement through September 6 at $300 per week, whereas the House Bill has it at $400 dollars.
The House is expected to vote on the amended bill on Tuesday so that President Biden can sign it into law early next week.