$2,000 Per Month: What is the coronavirus Emergency Money Act and who would get the payments?

What is the coronavirus Emergency Money Act and who would get the $2,000 monthly payments?

Even as Americans are getting $1,200 stimulus checks, House Democrats are proposing a $2,000 a month payment for most Americans over the age of 16 for the duration of the coronavirus pandemic.

Democrats Rep. Tim Ryan (Ohio) and Rep. Ro Khanna (Calif.) introduced the bill on Tuesday that would give Americans $2,000 a month until employment returns to the level it was before the economy was hit with shutdowns because of the COVID-19 virus.

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Here’s a look at the proposal:

The legislation

The bill is called the Emergency Money for the People Act and would provide $2,000 a month for a guaranteed six months or until “employment returns to pre-COVID-19 levels.”

“Pre-COVID-19 levels” mean the employment to population ratio for people ages 16 and older is greater than 60%. The monthly cash payments would not count as income.

You could still apply for income-based federal or state assistance programs, such as assistance with purchasing food.

Who would be eligible for the money?

  • Everyone 16 and older making less than $130,000 annually would receive $2,000 a month;
  • Married couples earning less than $260,000 would receive at $4,000 per month;
  • Qualifying families with children will also receive an additional $500 per child for up to three children.

So a family of four with two children earning income up to $260,000 a year would receive $5,000. A single tax filer would get $2,000.

  • If you are unemployed, you are eligible for the money, as well.
  • College students will be eligible for the money. They were not eligible for the stimulus payment sent out this week if they were claimed on their parent’s income tax as a dependent.
  • Adults with disabilities were also left out of the stimulus payment since they could be claimed as dependents on others’ tax returns. They would be eligible for the Emergency Money for the People Act.

Will it pass?

The bill was introduced by two Democrats. There are 232 Democrats in the House, a majority.

SAN ANSELMO, CA - AUGUST 29: In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California. The dollar fell to a two and a half year low to 91.77 Tuesday following the latest missile launch by North Korea. The U.S. dollar index has slipped over 10% since the inauguration of U.S. President Donald Trump.
SAN ANSELMO, CA - AUGUST 29: In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California. The dollar fell to a two and a half year low to 91.77 Tuesday following the latest missile launch by North Korea. The U.S. dollar index has slipped over 10% since the inauguration of U.S. President Donald Trump. (Photo Illustration by Justin Sullivan/Getty Images/Getty Images)