By a vote of 68-0, the Knesset gave final approval on Wednesday to the COVID-19 Economic Aid Program Bill, which is meant to regularize the payment of a grant to Israeli citizens amid the economic crisis brought on by the corona pandemic.
The one-time grants are meant to encourage consumption and employment and propel the wheels of the Israeli economy.
Under the plan, which excludes high-earners, single Israelis aged 18 and over, as well as married teenagers, will each receive a one-time payment of NIS 750. Families will receive NIS 500 for each of their first four kids, with another NIS 300 from the fifth child onward.
People receiving support payments for convalescent care, handicapped status, income assurance, needy new immigrants (who have been in the country for at least two years), the unemployed over 67, and the elderly who receive income supplements will all receive an additional NIS 750. IDF soldiers who were discharged in the past year will receive NIS 1,250.
On Tuesday the Knesset passed an amendment to Basic Law Proposal: The State Economy, which allows the government to spend an additional NIS 6.72 billion in 2020, on top of the NIS 25 billion already approved, for the purpose of financing the payment of one-time grants. The amendment passed by a vote of 80-0.
The grants will be given to all citizens with the exception of those earning over NIS 640,000 per annum and senior civil servants earning over NIS 30,000 per month.