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The #coronavirus relief package helps Americans, keeps cash in the hands of employers, helps their employees stay on payroll and protects our retirees financial health and stability. Here’s how:
For Americans, the #coronavirus stimulus package provides:
Up to $1,200 to individuals with earnings of $75,000 or less
Up to $2,400 to married couples filing jointly with earnings of $150,000 or less
$500 extra for each child
For employers, the #coronavirus stimulus package:
Delays payment of 2020 payroll taxes until 2021 or 2022
Gives 50% credit on up to $10k of employee wages
Allows businesses to carry back losses for immediate tax refunds
For retirees, the #coronavirus stimulus package:
Prevents forced cash-outs of retirement accounts
Waives penalties on withdrawing money from one’s 401(k) or IRA for coronavirus-related needs
Lets not forget deep in the Bill,. Is a Hidden RAISE for politicians
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