The proposed stimulus check plan includes $600 in direct payments to individuals and $300 per week in unemployment benefits.
The check is a one-time payment for people who have been out of work for a long time. It’s not a loan or tax refund, it doesn’t need to be repaid, and you don’t want to spend it on anything frivolous (or even non-frivolous).
The goal is to avoid doing too much harm by putting money into an economy that’s already losing steam because of the financial crisis. The hope is that paying people can help prevent layoffs and keep businesses open during this recessionary period.
You may be wondering, “What is the stimulus check?” or “How much is the stimulus check?” The answer to both of these questions is: it depends.
It depends on whether you are eligible for it and when you were born. For example, if you were born before 1942 and live in Idaho, then your stimulus check would be $2.
The second part of this question involves what exactly the checks will be used for. According to California Governor Gavin Newsom’s press secretary Dave Martinez-Cid,”We want families to spend their checks on things that help their communities thrive.”
Stimulus Check Dispatched By States
As of now, stimulus payments have only been available to people making less than $75,000 per year. But it will be interesting to see if lawmakers will include a second wave of payments in their new relief bill and if so, how they’ll regulate the amounts.
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