Last week, the President signed his $1.9 trillion pandemic aid package into law after the underlying bill narrowly passed mostly party-line votes in the House of Representatives (220-211) and the Senate (50-49). The new law includes:
- $1,400 stimulus check to Americans earning less than $75,000 per year;
- health insurance subsidies;
- an increase in the child tax credit;
- direct funding to state and local governments;
- funding for schools; and
- more money for vaccine distribution.
The stimulus checks began hitting bank accounts over the weekend. The remaining measures of the law will roll out soon.
We will provide further updates as the bill works its way through Congress and the President’s desk. If you have any questions concerning these matters or if we can provide you with any further assistance, please let us know.
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