Cares Act Stimulus When

It was a response to the market volatility and instability resulting from the coronavirus pandemic and includes provisions to support individuals and businesses in the form of loans grants and tax changes among other types of relief.

Cares act stimulus when. 1 eligible families receive an additional 500 for each child under the age of 17. After weeks of back and forth congress has approved a new 900 billion stimulus package to follow up the cares act from march which included a 1 200 stimulus check 600 in weekly federal. The coronavirus aid relief and economic security act also known as the cares act is a 2 2 trillion economic stimulus bill passed by the 116th u s.

Couples earning up to 150 000 will receive 2 400. The coronavirus aid relief and economic security cares act became law on march 27 2020. The cares act last spring included 3 5 billion for this program and the december stimulus package added another 10 billion.

This is based on 2019 adjusted gross income or 2018 agi if you haven t yet filed your 2019 tax return. Democrats are moving forward with a second stimulus package that would see another check sent to millions of americans. Now biden is proposing an additional 15 billion for the program.