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Answering your questions: Coronavirus stimulus package

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The $2 trillion stimulus package promises many Americans over a thousand dollars. Financial consultant Nick Royer says the package is historic, and for a good reason.

"The entire country basically shut down, it's not like what we saw in 2008 where it was just affecting one segment, the financials and the banks, this is widespread across everything," said Royer.

The package includes a major lending program, aid for the airlines, aid for hospitals, and protections against foreclosures.

The topic most discussed on our facebook page -- the checks promised to individuals making less than $75,000 a year and married couples making less than $150,000 a year.

Viewer Kristina Slusher asked if the payment was considered taxable income.

"We're actually seeing this is likely not going to be taxed, so it should not affect if you're getting a refund or if you had any taxes due, it is completely separate from that," said Royer.

Viewer Cathy Payne Rohrer said she is on social security, works part time and filed income taxes last year. She wanted to know if she would qualify.

"If you're getting social security you're likely still going to be able to get it, if you have a part time job and filed income taxes last year, you're going to be able to get this too," added Royer.

Checks are expected to come sometime between April and May, but when you do get the money, Royer says do not rush out and spend it.

"Put it in a rainy day account...so that you have an emergency cash stash you can go to if this gets out of hand," he said.

Andy Weber

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