Mammoth AwardsThe first stimulus relief package, the CARES act, reached near completion after the last round of economic impact payments having been sent out to millions.
The new bill named the HEROES act was approved is intended to serve as a rescue fund for rescue workers, city and state municipalities, small businesses, and everyday Americans.
Another Round of Financial Relief
Recently the United States House of Representatives narrowly passed a new $3 trillion stimulus package which would include another round of $1200 stimulus checks for qualifying American adults, an extra $200 billion in hazard pay for affected workers, and an extension on the unemployment benefits for another six months.
There are also special provisions made for a 15% increase in SNAP benefits for those who qualify along with student debt and loan forgiveness for amounts up to $10k which are 90 days past due, an expansion of sick days, family and medical leave benefits as well.
A new bill also promises to deliver stimulus checks to undocumented immigrants that have contributed to the US tax system. This provision along with the removal of the $10k cap on deducting state and local income tax (SALT) on federal tax forms have been tough pills for the GOP to swallow.
The IRS’ Efforts
The Internal Revenue Service (IRS) has reportedly paid out over $218 billion in stimulus checks already, including 110 million direct deposits and 20 million mailed paper checks. The tax agency began to issue payments on the 13th of April and still has roughly about another $70 billion left to distribute.
The financial relief is essential for the growing number of Americans that find themselves out of work due to prolonged business closures around the country. There’s also a large number of Americans who haven’t received the much needed help due to lack of a bank account or pending immigration status.
The ones who have received the check are complaining that it isn’t even enough to last them through the month.
