The Coronavirus pandemic has caused governments around the world to freeze their economies in their tracks. This unparalleled peacetime break to global markets has had a cascade of negative economic effects on populations around the globe. Now governments are hurrying to respond and offer assistance to their citizens as the pandemic unfolds.
<h2>New Stimulus Package To Supply Further Coronavirus Relief</h2>
There has been a wave of new legislation aimed at providing directed economic relief to those who need it most in the United States. In a government that is typically beset with partisan, almost zealot like politics some of the countries’ biggest legislation pieces in history have passed with record-setting time on deliberation.
<h2>The CARES Act Legislation Fundamental to Stimulus Plan</h2>
The centerpiece of the still-developing economic stimulus program that has been started by the federal government. It includes the largest direct payment to American taxpayers in the country’s history with individuals receiving checks directly from the IRS for $1,200. The 2.2 trillion dollar piece of legislation comprises several other programs designed to give relief to businesses and individuals. There has even been an expansion to the nations present unemployment program.
<h2>Existing Unemployment Benefits Differ Greatly by State</h2>
The newly expanded unemployment program gives states an extra $600 per person on top of the state’s already existing benefits. Depending on your job and the state that you live in there is a possibility you could earn more on unemployment right now than you could if you were working.
The <a href=”https://www.cbpp.org/research/economy/policy-basics-how-many-weeks-of-unemployment-compensation-are-available”>Center on Budget and Policy Priorities</a> has more info.