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Wednesday, December 1, 2021

A New Stimulus Check Could Be Coming Your Way: But The $5,000 Amount Has A Target Group

The Internal Revenue Service will be giving out a fresh check this week under the child tax credits to millions. Several states have also been sending out their version of stimulus checks to various groups. A particular state is even sending out $5,000 to those lucky enough to deserve it.

New York will use the federal aid it got as part of the COVID-19 pandemic support to financially support specific groups. The $6B funds will be used to financially support taxi drivers, the homeless, and artists. More money will also be channeled towards vaccination efforts.

The New York City Stimulus Check To Benefit Artists, Taxi Drivers, Small Businesses

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Artists, one of the professions most affected during the COVID-19 pandemic are part of the plan. A report that details the payment to be made by New York City mentioned that the New York City Artist Corps (CAC) was a significant investment in the artists of the city.   The group will give out a one-time $5,000 stimulus check to 1,800 artists to help sustain their profession and continue with their cultural engagements.

New York’s aid plan linked to the pandemic also has other components to support various groups. $125M will go towards the homeless population of the city. Restaurants and small businesses are also a big part of the state stimulus check payments. Over $182M will go towards these establishments that have less than a hundred employees. That comes to around 98% of the total businesses in the city.

The plan put together by New York City is more detailed and involves putting together pandemic support funds to help citizens in ways more thorough than we have seen in other states.

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The taxicab industry is also a part of the plan and $65M has been offered to a segment that has been particularly hit as millions remained in their homes during the extended lockdown during successive waves of the pandemic. The city document mentions that most drivers are immigrants and colored people. The aim of the stimulus check support for these drivers is to make sure that taxis become more available as the situation gradually returns to normalcy.

The Taxi Medallion Owner Relief Program of New York City has detailed the support plans. It includes a payment of $20,000 for restructuring loans. There is also a debt payment support of $9,000 each month.

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