MENU

Senators: Under the CARES stimulus package, $3,400 means $3,400

MGN_1280x720_00317B00-WGVTE.jpg
The U.S. Senate late Wednesday unanimously approved the unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic. (WWMT/MGN Online)

Michigan Sens. Debbie Stabenow and Gary Peters said Thursday that the $3,400 stimulus package rebate means $3,400.

Speaking during a conference call Thursday, the two U.S. senators also said the Internal Revenue Service will work diligently to get the rebate money in the hands of the people.

"There is not a higher priority in terms of the IRS right now. In talking to them, they are going to go as fast as possible," Stabenow told Newschannel 3's Kirk Mason.

The U.S. Senate late Wednesday unanimously approved the unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic.

Called the Coronavirus Aid, Relief, and Economic Security (or CARES) Act , the bill, once approved, would provide one-time direct payments to Americans of $1,200 per adult making up to $75,000 a year and $2,400 to a married couple making up to $150,000, with $500 payments per child.

The House still must approve the plan, which is expected to happen, based on the Senate's unanimous vote. President Donald Trump has said he would sign the plan into law.

Stabenow said the money heading to the American people will not be taxable. That means if a married couple with two children is set to receive $3,400, they will receive that entire amount.

How fast the money would arrive is not clear.

For those who are set up for direct deposit through the IRS, by filing taxes, the money would arrive faster. Checks would be sent to your last known address, so anyone who has moved should contact the IRS. People on Social Security also qualify for the payment.

The stimulus would also add more money to the bank accounts of the unemployed. For anyone on unemployment, this stimulus bill would add $600 a week to whatever the recipient already receives, for four months.

"The reason the number $600 was picked, just a straight $600 per week for folks across the country, was to get money out as quickly as possible," Peters said Thursday.

Senate passage delivered the legislation to the Democratic-controlled House, which is expected to pass it Friday. House members are scattered around the country. House Majority Leader Steny Hoyer, D-Md., said the measure would pass by voice vote without lawmakers having to return to Washington.


The Associated Press contributed to this report.