Monday, March 30, 2020
CARES Law
President Donald Trump signed a $2 trillion economic relief plan to offer help for millions of Americans affected by the virus. Payments will go to expanded unemployment coverage, student loan changes, different retirement account rules and more. Obviously, there are specific rules to see if you qualify for a certain amount of money.
It mainly depends on your income from 2019. For example, married couples with no children that earned $150,000 or less will receive $2,400. However, if someone claims you as a dependent, then you are not eligible for any payment.
People that are part of direct payment will receive money between two and three weeks. However, people that carry around paper checks will have to wait up to two to four months.
To summarize, mainly people who are unemployed, partly unemployed, or cannot work for reasons related to the virus will be more likely to receive benefits. Even those that receive unemployment benefits already, will receive an extra $600 a week for up to 39 weeks, depending on the state.
Those who make over the income limit, who are able to work from home, or those receiving paid sick leave or paid family leave are not eligible for these benefits.
https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html
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As much as some people, including me, think that Donald Trump has not taken the upmost seriousness that this virus should receive, this does make me happy. Many people are put up for eviction and hard to support their family with food and cleaning supplies that many other families receive.
ReplyDeleteSince many people are unable to work or if their place of work has closed down due to the virus, it is important that some government compensation is given. Especially since the shelter in place was ordered by the government, it is crucial that citizens are still financially supported if they are out of work.
ReplyDeleteThis compensation is necessary but I heard from a few college students online that it doesn't take into account college students as much as it should. Some have their parents still have them claimed as dependent so this payment wouldn't help if they got unemployed and still have to pay their own bills.
ReplyDelete