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

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[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.

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

  1. I’m in a huge mess I think.. I been collecting from my old company .. then got hired two weeks before corona somewhere else and got laid off.. so my unemployment is still coming under my old company . And I refilled under the new company so am I gona have to pay this back or will they prob fix it I don’t no what to do it’s a tricky situation

  2. I was laid off in January 15 do to cutbacks. I work for the census. But when I was getting ready to be called back we were laid off due to the coronavirus. My question is my unemployment benefits is getting ready to be exausted in one week. The question is do the state and government together pay you. And what makes you eligible for the extra 13 weeks

  3. I am one of the Unemployment Benefits recipients that worked 24 hours and earned $384.00. I noticed a “Excessive income” note on my claim. I received nothing, including the $600.00 WHY?

  4. Who do I contact I haven’t received my 600 this week for the cares act on unemployment? I got it last week on Wednesday but nothing at all so far this week who do I contact in order to see where it’s at? Please help and thank you

  5. Is the $1200.00 stimulus check free money, or will it be subtracted from my refund when I file my taxes for the year 2020? If I were to receive a $1400.00 tax refund on my 2020 taxes, would I get the complete $1400.00 back in 2021, or would I only get $1400.00-$1200.00 (Covid – 19 stimulus) , giving me a refund of only $200.00 instead of $1400.00?

    1. It’s tax free. Doesn’t have to be repaid or deducted in the future. See some of my more recent articles on this (menu option on site)

  6. So I was laid off due to Business slowing down. However, the place I worked for has not closed it’s doors.
    Do I still qualify for the $600.00? I just started my unemployment claim and received my edd debit card of which only had $51.00 on it. I’m so confused.

    1. You will qualify for $600 if you qualified for even $1 of UI. You should start seeing the $600 soon depending on which state you are in

      1. I was reading the EDD website for unemployment and who is eligible for the $600 extra per week
        and it stipulates that it is only for people that were laid off due to their business closing its doors, or they are taking care of a family member, or they have Covid-19 themselves or are self-employed. None of these apply to me so why do you think I will receive this benefit. I was laid off due to business slowing down and the
        business I work for is still open so it sounds as if I will not be eligible. Correct me if I’m wrong but I think they have clarified who is eligible and who is not. So now I’m back to being worried I will not have enough to pay my bills.

      2. I was on ui before the virus will I still get the 600 .. I got a new job two weeks before the virus broke out so I only got two paychecks but I have t seen the 600 and I been on ui since feb .. but I reclaimed under my new company and never got a email .. am I getting the 600 ? I’m in New Jersey

  7. I work in a hospital and was told by Human Resources that bills do not apply because they have more than 500 employees (sick time)

  8. why isnt childsupport taking out of unemploment stimulus checks..families arent geting childsupport payments

  9. I got furloughed and the max allowed for unemployment in my state is 365.00 a week. I made way more than that a week, do I qualify for the whole 600.00 extra in stimulus money from unemployment?

  10. 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.

  11. 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?

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

  13. 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?

    1. 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.

  14. 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

  15. 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 ?

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

    2. No you will rec it the first week of May direct deposit if you have a acct …
      as long as you have a 1099 ..

      Thanks

  16. 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?

  17. 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.

  18. 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.

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

    2. 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

  19. 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

  20. 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.

    1. 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

      1. 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.

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

    2. 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!

      1. 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

    3. 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.

      1. 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

    4. 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

    1. 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..

      1. 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 .

      2. 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.

    2. 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.

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

  22. 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.

  23. 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.

    1. 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.

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