قالب وردپرس درنا توس
Home / Tips and Tricks / If there is no second stimulus check on the next lump sum payment, you can still take advantage of it

If there is no second stimulus check on the next lump sum payment, you can still take advantage of it



    money-cash-dollars-stimulus-payments-pay-7139

With the help of Congress, several financial aid programs will be running by the end of the year.

James Martin / CNET

What if, after months of talking and bickering and insistence, Congress doesn’t agree on another? second stimulus control as part of the following economic rescue account? With President-elect Joe Biden warning that the country is about to enter a “dark winter,” an increasing number of leaders in Washington are calling on lawmakers to adopt a short-term emergency relief package to help the country over the coming months. help out.

That could mean that the House and Senate could narrow their focus to revamp a handful of federal programs designed to keep individuals and families afloat during the economic hardships caused by the pandemic. expires at the end of the year.

A smaller bill to get the country through in the coming months could leave out a few popular proposals that the Democrats and Republicans have been advocating since May, such as a second economic stimulus check, with the idea that Congress could discuss a broader package as soon as Biden takes office on Jan. 20.

Even then, one second incentive payment is not a guarantee. Opponents suggest it may not be necessary as a viable COVID-19 vaccine is on schedule. With an effective vaccine on hand, the argument goes, people will be able to get back to work, leisure activities and life as usual, which in turn will fuel the spending that drives the economy. However, not everyone will receive the vaccine at the same time, and wider distribution by mid-2021 is still months away. Meanwhile, deaths from coronavirus are soaring, and the CDC warns the US could hit a death toll of more than 320,000 by mid-December.

A group of 127 economists this week signed an open letter (PDF) calling direct payment the “fastest, most equitable and most effective way to get families and the economy back on track.”

But what does it mean if there is one more, after months of incentives not come? We’ve looked at other benefits that a new incentive package could bring you, even without another $ 1,200 per qualified adult.


Now playing:
Look at this:

Following stimulus checks: what to expect


3:03

More money for federal unemployment assistance

The CARES Act authorized in March an additional $ 600 per week in unemployment money for the unemployed. When that program ended in July, President Donald Trump has signed an executive action that extended payments through the end of the year by an additional $ 300 per week, until December 31, or until the money for each state ran out. With the total number of unemployed workers claiming benefits, as high as 20 million, the government reported this month, a renewal of federal unemployment aid could directly help millions of people pay rent, food and other necessities.

Give small businesses money for employee wages

The Payroll Protection Program, also part of the CARES Act, was designed to keep workers in employment by providing forgiving loans to small businesses to pay wages. That means people who work for small businesses should be more likely to keep their jobs as their employer can get extra money to keep employees on the books.

While recent studies suggest the payroll program wasn’t as effective as it could have been – with many companies using the loans for unpaid expenses and to build savings, according to a University of Chicago study – both Republicans and Democrats have insisted on renewal. of the program aimed at the hardest hit small businesses.

006-cash-stimulus-bill-red-blue-politically-torn-election

Federal support for workers’ wages is expected to run out as Democrats and Republicans continue to disagree.

Sarah Tew / CNET

Eviction protection for tenants

The CARES law covered a period of 120 days moratorium on evicting tenants who were late with rent. Trump extended the moratorium until December 31. A recent US Census survey found that one in five tenants will not be caught up on their rent during the pandemic, making a lapse of protection potentially catastrophic for US households and exacerbated by a predicted rise in personal bankruptcy.

With Congress running past Thanksgiving and a December 11 deadline to approve a new federal budget, lawmakers will have to act quickly to agree to a short-term resolution before the new year.

Until then, here’s what we know about the state of negotiations on another economic bailout law, which can be hold an agreement and five benefits disappear unless Congress acts before the end of the year.




Source link