The Coronavirus pandemic has brought governments around the world to stop their economies in their tracks. This unmatched peacetime break to global markets has had a cascade of negative economic effects on populations across the globe. Now governments are running to respond and offer assistance to their citizens as the pandemic spreads.
New Stimulus Plan To Provide Further Coronavirus Relief
There has been a tide of new legislation directed at providing targeted economic relief to those who need it most in the United States. In a government that is ordinarily beset with partisan, almost zealot like politics some of the countries’ largest legislation pieces in history have passed with record-setting time on deliberation.
The CARES Act Rules Core to Stimulus Strategy
The centerpiece of the still-developing economic stimulus program that has been started by the federal government. It includes the largest direct payment to American taxpayers in the country’s history with individuals expecting to receive paychecks direct from the IRS for $1,200. The 2.2 trillion dollar piece of legislation includes several other programs designed to render relief to businesses and individuals. There has even been an extension to the nations present unemployment program.
Existing Unemployment Benefits Vary Significantly by State
The newly enlarged unemployment program gives states an added $600 per person on top of the state’s already established benefits. Depending on your job and the state that you live in there is a chance you could earn more on unemployment right now than you could if you were working.
The Center on Budget and Policy Priorities has more info.