ABSTRACT

CARES Act Payments Use and Recipient Characteristics: In Brief [July 24, 2020]   [open pdf - 981KB]

From the Document: "In response to the Coronavirus Disease 2019 (COVID-19) pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, P.L. 116-136) provided direct payments to individuals and families. The maximum amount of these payments--sometimes referred to as 'stimulus checks' or 'stimulus payments'--is $1,200 per eligible individual ($2,400 for married taxpayers filing a joint tax return) and $500 per eligible child. The payment amounts are reduced $5 for each $100 that a taxpayer's income exceeds the phaseout threshold. These thresholds are (1) $150,000, if filing as married filing jointly; (2) $112,500, if filing as head of household; and (3) $75,000, for single filers. [...] This report provides summary statistics on how recipients used their stimulus payments, followed by characteristics of recipients. The estimates in this report were obtained from the Census Bureau's new Household Pulse Survey."

Report Number:
CRS Report for Congress, R46467
Author:
Publisher:
Date:
2020-07-24
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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