WC New Mexico News

Steve Pearce, chairman of the New Mexico Republican Party, recently hailed the importance of the $2.2 trillion stimulus package President Donald Trump has signed into law.

“This massive and historic relief package demonstrates the Trump Administration’s absolute dedication to the American people,” Pearce said in a statement. “Today’s swift signing by the President shows that the health, safety and welfare of Americans come first, and this stimulus package will help kick-start the economy, bring back jobs and get New Mexico and America back on track.”

According to coverage by NBC, stimulus checks going out to individuals and couples will be based on either their 2019 or 2018 tax return, depending on which they have most recently filed.

Individuals making less than $75,000 will receive $1,200. Couples making less than $150,000 will receive $2,400 if they filed jointly.

For those making more than the threshold, the check will be $5 less for every $100 of income.

However, an individual filing as a head of a household will have a higher threshold of $112,500 before they see any reduction in their $1,200 check. 

In comparison, someone filing as an individual without being counted as a head of a household would receive no stimulus check if they made $99,000 or more.

There is some added relief in the bill as well for someone who made too much in 2018 or 2019 to receive any stimulus check.

When filing their 2020 taxes, someone who was not received a stimulus check could apply to receive it then, based on 2020 earnings that fall below the threshold.

NBC also reported that the eligibility is not limited to U.S. citizens. Those working in -- and therefore paying federal taxes -- and living in the U.S. are eligible. They will also need to have a valid social security number to be eligible.