Proposed legislation by a pair of lawmakers would provide additional cash payments of $2,000 a month for Americans affected by the coronavirus pandemic.
The “Emergency Money for People Act” proposed by Rep. Tim Ryan (D-OH) and Ro Khanna (D-CA) would provide payments for qualifying Americans until employment returns to normal.
The plan calls for people over the age of 16 who make less than $130,000 annually to receive monthly payments of $2,000 to help them get through the pandemic.
Married couples earning less than $260,000 a year would receive $4,000 a month. Families with children would receive $500 per child, with funds capped at three children.
The lawmakers called the CARES Act an “important first step” but believe more help is needed for American families.
The legislation fixes a “bug” in the CARES Act that kept college students and adults with disabilities from getting payments because they were claimed as dependents.
The proposal also provides more flexibility in delivering the payments:
The Emergency Money for the People Act additionally recognizes that not everyone has a bank or a home address to receive a check – so it allows individuals to get this money through direct deposit, check, pre-paid debit card, or mobile money platforms such as Venmo, Zelle, or PayPal.
The act would guarantee monthly cash assistance for at least six months and continue until employment reaches pre-pandemic levels. The payments would not count as income in order to “protect eligibility for any of the income-based state or federal government assistance programs.”
Here are some of the key points:
- Every American adult age 16 and older making less than $130,000 annually would receive at least $2,000 per month.
- Married couples earning less than $260,000 would receive at least $4,000 per month.
- Qualifying families with children will receive an additional $500 per child – families will receive funds for up to three children.
- For example, a married couple making under $260K with 3 kids would receive $5,500 per month.
- Those who had no earnings, were unemployed, or are currently unemployed would also be eligible.
- Those who were not eligible in 2019 or 2018 but would be eligible in 2020, could submit at least two consecutive months of paychecks to verify income eligibility.
- The Emergency Money for the People Act also expands the program to millions more Americans who were excluded from the CARES cash rebates – such as college students and adults with disabilities who are still claimed as a dependent. The individual will receive the payment and their parent or guardian will receive the dependent credit.