This morning the U.S. House of Representatives passed Biden’s COVID-19 relief bill, known as the American Rescue Plan, with a 220-211 vote. President Joe Biden will sign the bill into legislation on Friday.

The legislation will provide $1,400 direct payments to individuals making less than $75,000 annually and $2,800 payments to married couples making less than $150,000 annually. Individuals making more than this annually will get a smaller portion of the allotted amounts. These direct payments also include up to $1,400 per dependent; this includes adult dependents such as college students.

The bill also includes a $300-per-week added benefit to unemployment claims until Sept. 6.

The annual child tax credit has been expanded to $3,600 for children under five years old and $3,000 for children above the age of five.

The bill’s funding includes $14 billion for vaccine distribution, $49 billion for COVID-19 testing, contact tracing and personal protective equipment, $125 billion for K-12 schools, $40 billion for higher education, $39 billion in child care grants, $25 billion for rental assistance and $30 billion for public transit.

The original inclusion of a $15-an-hour minimum wage provision was removed from the senate before passing.

Answers to questions about eligibility, payment arrival,and the effects on unemployment and taxes can be found here: F.A.Q. on Stimulus, Unemployment and Tax Rebates