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You'd need to make $75,000 or less to get maximum coronavirus aid check

Business Insider logo Business Insider 4 days ago Bryan Pietsch
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Video by CBS Pittsburgh

    The Senate passed a roughly $2 trillion stimulus package to deal with the effects of the coronavirus outbreak, and it includes a provision to send checks to Americans.

    The direct payments would fluctuate depending on the income a person reported on their 2018 taxes, according to a copy of the bill.

    Here's how much you'll get based on income:

    • $1,200 for individuals making $75,000 or less
    • $1,200 for heads of households making $112,500 or less
    • $2,400 for a couple who filed jointly making $150,000 or less
    • $500 per child
    • $1,200 decreasing by 5 cents of every dollar over $75,000 for individuals
    • $1,200 decreasing by 5 cents of every dollar over $112,500 for heads of households
    • $2,400 decreasing by 5 cents of every dollar over $150,000 for couples who filed jointly

    Because the payment decreases by 5 cents for every dollar over those amounts, individuals making $99,000 or more and couples making $198,000 or more will receive no payment. 

    The House of Representatives still needs to approve the bill before it is sent to the White House, where it is expected to be signed into law. 

    The checks are set to be sent "as rapidly as possible" to direct deposit accounts used on tax filings in 2018 or later. For people without direct deposit or bank accounts, the checks are likely to be sent in the mail, which could take months.

    Here's everything you need to know about the payments

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