Here’s everything you need to know.

The HEROES Act offers a larger stimulus payment than the Coronavirus Aid, Relief and Economic Security Act. Under the new legislation each member of a household would receive $1,200, including children. The income thresholds would remain the same, meaning that single taxpayers earning less than $75,000 and married taxpayers earning a total of $150,000 would receive the full payments. For instance, a family of four whose parents earn less than $150,000 would receive $4,800. 

HEROES would cap total payments at $6,000 per family. Under CARES, a family of four whose parents earn less than a combined $150,000 received $3,400, since that law directed $500 for each child under the age of 17. 

Source: cbsnews.com

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