Rep. Tim Ryan (D-OH) and Ro Khanna (D-CA) introduced legislation Tuesday that would provide a $2,000 monthly payment to qualifying Americans until employment returns to pre-COVID-19 levels.
According to a press release, the Emergency Money for the People Act would mean $2000 monthly payments for those over the age of 16 who make less than $130,000 annually.
The release states that while the CARES Act was “an important first step” to help those impacted by the pandemic, “it does not provide nearly enough support for American families.”
The release said the act also fixes a “bug” in the CARES Act to ensure college students and adults with disabilities can still receive the payments even if claimed as a dependent.
The release also states: “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 economic impact of this virus is unprecedented for our country. As millions of Americans file for unemployment week over week, we have to work quickly to patch the dam – and that means putting cash in the hands of hard-working families,” Ryan said in the release. “Many Ohioans are just receiving – or about to receive – the first cash payment we passed in the CARES Act. Now it’s time for Congress to get to work on the next step to provide relief for those who have been hardest hit in this pandemic.”
Eligibility factors would include:
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.