ABSTRACT

COVID-19 and Stimulus Payments to Individuals: How the 2009 Economic Recovery Payment Worked [March 18, 2020]   [open pdf - 649KB]

From the Document: "In response to concerns about an economic slowdown due to the Coronavirus Disease 2019 (COVID-19) outbreak, some lawmakers have expressed interest in providing direct cash payments to Americans. One option to provide such payments would be to establish a new advanced refundable tax credit, as was done in 2008 with 'recovery rebates.' Although this option would disburse payments to the vast majority of Americans relatively quickly, it would not directly help those who do not file a federal income tax return. A 2017 study found that 'nonfilers' were more likely to be seniors or recipients of public assistance than those who filed a tax return. To provide direct cash payments to nonfilers, lawmakers could consider providing such payments through existing programs for certain vulnerable populations. To assist lawmakers in assessing the merits of such a proposal, this Insight examines the 2009 Economic Recovery Payment (ERP), which was a one-time $250 payment made to most individuals who received recurring cash benefits from the Social Security Administration (SSA), the Railroad Retirement Board (RRB), or the Department of Veterans Affairs (VA)."

Report Number:
CRS Insight, IN11254
Author:
Publisher:
Date:
2020-03-18
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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