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$2.2T rescue package signed into law; what does it mean for you?

WASHINGTON — President Donald Trump signed a $2.2 trillion economic rescue package into law Friday, March 27. The package will rush resources to businesses, health care providers and struggling families during the coronavirus pandemic.

Bryan Steil

Wisconsin Republican Rep. Bryan Steil drove from the Badger State to the Capitol to back the bill which, he says, isn’t perfect.

“It spends too much money, it has things that are unrelated to coronavirus, including $25 million for a theater in Washington D.C.,” Steil said.

Overall, the Janesville lawmaker says the bill “steps up to the plate and makes sure that people are able to pay their bills, their mortgage, their rent, their grocery bill.” He continued, “Taken as a whole, we needed to make sure we were providing assistance to those people who have lost their jobs, and to make sure that our hospitals are prepared.”

The bill adds $600 per week to state unemployment benefits. Wisconsin’s maximum benefit right now is $370 per week. 89,000 more people filed for unemployment in the state from March 22 through March 26 — 98% of them filed online.

“Even with only 2% of people needing to call, that is thousands of people calling a day, and it’s just overloading our phone systems,” Emily Savard, program and policy analyst with the Wisconsin Department of Workforce Development, said.

FOX6 News received a number of questions on the bill’s cash payments.

How much can you receive?

  • If you make less than $75,000, you’d get a check for $1,200
  • For a married couple making less than $150,000, you’d get $2,400
  • The bill phases out for people making more than those amounts
  • Families can receive $500 per qualified child
    • Jason Rose of Acc-U-Rite Tax Service tells FOX6 News that only children 16 years old and younger as of Dec. 31, 2019 qualify

Where will the money go?

  • If you elected direct deposit of your 2019 or 2018 tax return, the money will be sent there
  • If not, you will be mailed a check to your address on file

Rose also says that people on social security should also receive the money into their accounts. U.S. Treasury Secretary Steven Mnuchin has said that money could head out within three weeks.

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