![]() ![]() ![]() $25 billion in emergency rent assistance.$82 billion in education funding, including a $54.3 billion K–12 Emergency Relief Fund and a $22.7 billion Higher Education Emergency Relief Fund. ![]() $69 billion to public health measures, including $22 billion in aid to states for testing and tracing, $20 billion to the Biomedical Advanced Research and Development Authority (BARDA), $9 billion to the CDC and state governments for vaccine distribution, and $9 billion to support healthcare providers.$45 billion for transportation funding, including $15 billion in airline payroll support, $14 billion for transit, and $10 billion for state highways.An extension of the CDC eviction moratorium through Jan.$325 billion in help for small business loans, including $284 billion in forgivable PPP loans, $20 billion for EIDL grants for businesses operating in low-income areas, and $15 billion for live cultural venues.The Pandemic Unemployment Assistance (PUA) program for self-employed and contract workers was extended, as was Pandemic Emergency Unemployment Compensation (PEUC) for people who exhausted their unemployment assistance. The benefits would be expanded by $300 a week. Eleven weeks of expanded unemployment benefits starting on Dec.The payments were to be available to individuals making up to $75,000 per year. Direct payments of $600 per person, including for dependents ages 16 and younger.The unemployment rate was 3.4% as of January 2023. unemployment rate rose as high as 14.7% in April 2020-the highest since the Great Depression. stock market into bear market territory in March 2020, with the S&P 500 not recovering to pre-pandemic highs until June 2020. economy into a recession in February 2020. The early days of the pandemic sent the U.S. Eviction and foreclosure moratoriums, paycheck protection, student loan forbearance, and stimulus checks were a few key elements of these laws.The government also enacted several laws to provide relief to businesses and individuals, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the American Rescue Plan Act.Actions on monetary policy, interest rates, quantitative easing (QE), and lending programs are several examples of how the Fed has tried to help the economy.government and the Federal Reserve (Fed) have taken steps to mitigate the effects by providing fiscal stimulus and relief. The COVID-19 outbreak has tremendously impacted the U.S.Under the American Rescue Plan, parents with ITNs who have dependents with a valid Social Security number could receive the payment for their children. ITINs are typically used by workers who don't have a Social Security number but who are required to file taxes. About 420,000 people in this category hadn't gotten their checks as of last fall, the report noted. Most of the people who missed getting a $1,400 check they were entitled to are individuals with an ITIN - an Individual Taxpayer Identification Number - who didn't receive a payment for an eligible dependent, Treasury said. Because the checks were phased out above certain amounts - such as a $160,000 income cutoff for married couples - people whose earnings declined in 2021 below that threshold could qualify for more money. Because the IRS relied on the previous year's tax return to determine eligibility, the tax agency would not have known about children born or adopted in 2021.Īnd some people whose incomes declined in 2021 could also qualify for more stimulus money. For instance, some families who had a new child in 2021 may not have received the third stimulus check for their new addition. ![]()
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