Stimulus Payments Coming To NY: Here's How Much You Could Get

Long Island NY

28 December, 2020

11:53 AM

Description

NEW YORK — On Sunday, President Donald Trump signed the newest stimulus bill into law. The $900 billion aid package includes many benefits for New Yorkers, including extended unemployment benefits and a second round of stimulus checks. Most Americans will receive $600 from the federal government — half of what was sent out earlier this year. The payments will be available to people who made less than $75,000 individually and $150,000 as a couple in 2019. After those thresholds, the payments decrease, and won't be available for anyone who earned more than $99,000. Adults also get $600 for each child they claim as a dependent. The personal finance website Grow created a calculator to help you figure out how much you will receive from the stimulus bill. Check out the stimulus calculator here. The bill also extends federal unemployment benefits, providing an extra $300 a week and extending coverage another 11 weeks through at least March 14. The extended benefits include self-employed and gig workers. Like the direct payments, the extended unemployment benefits are half of what people got under the previous stimulus package. Though the unemployment rate has fallen from its high in the spring, hundreds of thousands of New Yorkers are still without jobs, according to the state Department of Labor. As of November, the unemployment rate in the state was 8.1 percent, which equates to about 737,700 people.