2020 Fiscal Economic Stimulus to Combat Recession Fears Amid Coronavirus (Covid-19) Outbreak

[Latest Update] In addition to the FFCRA act, Congress has now passed a much larger fiscal stimulus bill (the third one) aimed at addressing the rapidly deteriorating jobs and economic situation as the Coronavirus related shutdown continues. The new stimulus package is nearly $2 Trillion (that’s right, 12 zeros!) and is the largest such measure in US history. Known as the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act” (H.R 748) it is designed to provide a massive and immediate boost to the American economy, while supporting many industries and small business’ hit hardest by the virus induced slowdown. Measures include

  • $1,200 (singles) and $2400 (couples) direct check. Income thresholds have been established for eligibility. See details on the payment schedules here.
  • Those with no federal income tax liability, would see smaller benefits or gig workers and freelancers would still be eligible for a $600 minimum payment.
  • $150 billion for local and state governments
  • $130 billion for hospitals to support ongoing critical patient care due to the Coronavirus.
  • $350 billion in loans to airlines and other distressed industry sectors like auto makers.
  • $250 billion towards the Expansion of unemployment insurance and those eligible for it (see more details)
  • $300 billion in forgivable SBA loans for small businesses. This is to ensure they stay in business and reduce the need to layoff workers
  • $25 billion in additional funding to supporting further testing and treatment of the Coronavirus related cases

As you can imagine lots of lobbyists are out in force trying to get bailout funds for their industries, but the main priority is to help everyday Americans. Lets see if Congress can manage that amidst all this chaos.


[Stimulus Bill #2] U.S. lawmakers and the White House have approved a massive fiscal stimulus deal for supporting economic relief amid the Coronavirus (Covid-19) outbreak. These measures were approved under a bill called the Families First Coronavirus Response Act (FFCRA). Treasury Secretary Steven Mnuchin said the president is absolutely committed that this will be an entire government effort. House Speaker Nancy Pelosi also confirmed that U.S. lawmakers and the White House have reached a deal on economic relief amid the Coronavirus outbreak. The following are key provisions on the fiscal stimulus package:

  • Enhanced unemployment benefits. The bill provides $1 billion in 2020 for emergency grants to states for activities related to processing and paying unemployment insurance (UI) benefits,
  • $400 million to assist local food banks to meet increased demand for low-income Americans during the virus outbreak
  • Food assistance programs (SNAP) and federal funds for Medicaid. This includes a $500 million Special Supplemental Nutrition Program for Women Infants and Children.
  • Paid sick leave – Ensures 14 days of paid sick leave by providing tax credits to help small- and medium-size businesses fulfill that mandate.
  • Emergency Paid leave – Eligible workers will receive a benefit for a month (up to three months) in which they must take 14 or more days of leave from their work due to the qualifying COVID-19-related reasons. Days when an individual receives pay from their employer (regular wages, sick pay, or other paid time off) or unemployment compensation do not count as leave days for purposes of this benefit. The program will be administered by the Social Security Administration (SSA).
  • Free Coronavirus testing and treatment, including the uninsured
  • $250 million for the Senior Nutrition program in the Administration for Community Living (ACL) to provide home-delivered and pre-packaged meals to low-income seniors who depend on the Senior Nutrition programs in their communities.

Source : FFCRA

The Federal Reserve also released more details on its trillion dollar plus monetary stimulus measure to support crashing markets and boost credit/liquidity for American companies.

More details to come as lawmakers release additional information about these measure. Please subscribe to get the latest information.

39 thoughts on “2020 Fiscal Economic Stimulus to Combat Recession Fears Amid Coronavirus (Covid-19) Outbreak

  1. Sandra Mcmutry

    In 2015 I had an on the job injury to my right hand and lost my job.I do recieve workers comp will I receive a stimulus check.

    Reply
  2. Woodlands

    If I am furloughed and now receive only 20% of my normal salary which falls above the IU max amount for my state and so am ineligible for unemployment. Would that now change with the enhanced CARES extended benefit? Would CARES expand state eligibility to the higher earners?

    Reply
  3. joe

    I got laid off due to corona and I gross $800 / week. Am I eligible for the whole $600 weekly stimulus money

    Reply
    1. Andys2i Post author

      Yes – but you need to file and confirm via your state UI agency.

      Reply
  4. Mona

    Hi I am on Arkansas Medicaid. I recieved 194.00 in snap for food. I have no income since 2015 and have not filed taxes since 2016. Will I get a stimulus check in the mail?

    Reply
    1. Mona

      Btw I am a daughter/caregiver for my elderly handicap parent. I am recovering from 2 post traumatic brain injuries. I had to retire my Radiologic Technology License in Radiography and Mammography. Worked in Health care for 35 years. Disability is pending.

      Reply
  5. Samson

    what if I didn’t work in 2018, 2019, and 2020 ? Can I get any unemployment or claim this?
    Still haven’t been able to find a job in CA

    Reply
  6. carl donald atkins

    my wife and I both draw social security. we don’t file tax. do we have to file a return to be able to get a stimulus check ?

    Reply
    1. Andys2i Post author

      No. You will get it deposited to the same account you current get your SSI payment (assuming you qualify)

      Reply
  7. Donna

    I was laid off on January 17 2020 and have not been able to find a job since. I have been collecting unemployment since then but would I be eligible for the extra 600.00?

    Reply
  8. Lynn

    Yes you will be eligible for the stimulus money. Anyone making less than 75,000.00 will receive it even if you are retired or disabled.

    Reply
  9. Lynn

    Yes you will be eligible for the stimulus money. Anyone making less than 75,000.00 will receive it even if you are retired or disabled.

    Reply
  10. Diana Elliott

    I have 803.00 a month I get SS and SSI will we see anything at all on this stimulus bill?

    Reply
    1. PhxLyzette

      You should… These payments are being awarded regardless of little or no income, tax liability, or source.

      Reply
    2. Beth Bates

      I don’t get disability I’m trying tho and I can’t work will I receive anything back ok I seen where I would now I need to know how do I sign up so they’ll know how to send mine to me helpllpppllllllpppppp

      Reply
  11. Lori Sethi

    PEOPLE !!!! you need to use your power…It is called voting…Get out and vote for THOSE who have a record of being behind all your struggles….NO complaint will be cared about until we as a nation take the power back.INSPIRE and CHALLENGE yourself to change our country…THE power is in our hands …USE IT

    Reply
  12. Deborah Cox

    You know this is not fair to the ones on SSI n Ssa. I worked all my like until I had to go on Ssa in 2017. Why are we not recognized. We paid taxes. I feel we all should receive something.

    Reply
    1. Diana L

      I feel you are right I totally agree I feel that the people with money in their bank accounts are ones being paid a stimulus check while myself on Social Security with a young grandson living with me are out at the bottom of the Barrel I have no choice but to continue to go and come trying to buy little food and cleaning supplies if I can find any because the ones with money to do so have already taken just about everything and do not have to put themselves and families at risk I find this to be cruel because it seems like they are trying to wipe out the lower income people and keep the ones with more in their bank accounts how is this equal to all Americans to me equal is one for all and same for all

      Reply
      1. Jesse Lyles

        Ty, I agree
        I had laid bricks for 38 years mostly building schools and hospitals in Arkansas.
        My body is broke down and my fingers got cut-off in 2010.
        As a single I worked union for a while and the government would hold out taxes in amounts of $ 700 – $ 800 a week.
        Where is that money?
        I receive under a $ 1000 a month after paying taxes all these years.
        Every month I have to overdraft my bank account just to pay rent and eat.
        Ty Jesse Lyles.

        Reply
      2. Lynn

        You will receive 2020 stimulus money. They will direct deposit to your bank or they will send you a check.

        Reply
    2. Sande

      I worked since I was 15 yrs old and was laid off 2015 living now on SSI now loosing my home in foreclouser no help from Hud, Fannie Mae, all they want is your house. They put all these programs out there so when you have a hardship something can be worked out. take .section 8 choise closed waiting list 2-3 yrs no availble houseing. Can’t get snap because make to much on SSI but can’t pay a mortgage, thats a laugh, The SSI needs to be revamped it has not kept up with the cost of living To many Seniors fall thru the cracks. Single parent payed taxes, raised my 5 childern. This Stemulas should be for all the people in the income range even Seniors on SSI ,SSA, we all have supported our country now its time that our country does not forget it’s Seniors. We are American Seniors and we need Help!

      Reply
      1. Lynn

        You will receive stimulus money. Anyone making under 75,000.00/yr will get it and anyone retired or on SSI will get it. This money is to boost the economy due to the pandemic. Government wants you to do whatever you want with it so it will go back and help boost economy because we are likely in a recession. God Bless

        Reply
    3. Jesse Lyles

      Ty, I agree
      I had laid bricks for 38 years mostly building schools and hospitals in Arkansas.
      My body is broke down and my fingers got cut-off in 2010.
      As a single I worked union for a while and the government would hold out taxes in amounts of $ 700 – $ 800 a week.
      Where is that money?
      I receive under a $ 1000 a month after paying taxes all these years.
      Every month I have to overdraft my bank account just to pay rent and eat.
      Ty Jesse Lyles.

      Reply
      1. Lynn

        You will receive stimulus money. Anyone making less than 75,000.00/yr or is retired or disabled is eligible for it. It should be direct deposited into your bank account or they will send you a check. God Bless

        Reply
    4. PhxLyzette

      Good news…

      “Those payments are expected to be $1,200 for individuals, or $2,400 for those who are married and file income taxes jointly. It also includes $500 per child.”

      “However, you are still eligible for a check if you have no income or if you rely solely on non-taxable government benefit programs like Supplemental Security Income benefits, or SSI, from Social Security.”

      “If you didn’t yet file a 2019 return, the government will use your 2018 information if it has it. It also may use a 2019 Social Security benefit statement, or Form SSA-1099, or the Social Security Equivalent Benefit Statement, or Form RRB-1099.”

      “Some individuals are specifically excluded from receiving payments. That includes nonresident aliens, individuals whose deductions can go to another taxpayer, and estates or trusts.”

      “The legislation calls for sending out the payments “as rapidly as possible.” Eligible individuals will receive the funds electronically if they previously authorized refunds to be delivered to them that way. Otherwise, they will be sent out via postal mail.”

      — (Article updated Wednesday, 3/25/20)
      https://www.cnbc.com/2020/03/25/congress-to-send-taxpayers-1200-checks-in-the-wake-of-coronavirus.html

      Reply
    1. Ethel

      My thoughts are no. It’s said tax payers… If you are retired,or disabled, we are screwed. Unless you have a job and are still working part time. We aren’t tax payers any more. The hardest hit group in America where the virus is concerned. And yet we seem to be over looked..

      Reply
      1. Jesse Lyles

        Then just give me the interest from all my income taxes paid over all these years and I won’t need the stimlous money.
        Should enough interest paid to move to Hawaii .

        Reply
      2. Heather

        You should really read the details of the stimulus for 2020 , it does indeed include ANYONE ON SSI , SSDI AS WELL AS THOSE WITH LITTLE OR NO INCOME.

        Reply
    2. Heather

      Read what’s being released by numorus reputable sites and posted above… It clearly states , those with little or no taxable income ARE ALSO GETTING THE STIMULUS CHECKS. HOW EVER ITS YOUR RESPONSIBILITY TO MAKE SURE THE GOVT KNOWS WHERE TO SEND THE MONEY , WHETHER IT BE DIRECT DEPOSIT OR A PAPER CHECK.

      Reply
  13. LEA NORVELLE

    I WORK PART-TIME IN LOUISIANA AND RECEIVE SNAP BENEFITS WILL I BE A PART OF THE STIMULUS PROGRAM ? I AM SINGLE.

    Reply
  14. Geneva Prevatt

    I lost my job on 09-19-19, and only recieved 3 months of unemployment. I’ve had noluck in getting a job as small businesses are not hiring do to th uncertain of the economy. Iam I eligle for any type of assistance. I have to see adoctor every 3 months for existing conditions and can no longer afford it. I have no savings, credit cards or any other source of income. What is my government going to do to help me? County is Hillsbourgh, FL.

    Reply
  15. Lafreda Pope

    Regarding UI claim for reduce work employment. Will the jobs send a list of names of employees who qualify for benefits to edd. Will the stimulus program be automatic payments for all.

    Reply
    1. Lynn

      Yes you will be eligible for the stimulus money. Anyone making less than 75,000.00 will receive it even if you are retired or disabled.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *