If during the 2008-2009 financial crisis, it took the government several months before the first stimulus payments were issued to the American people, now the Treasury Department and the IRS have worked ‘around the clock’ to get the payments out, a Treasury Department official told ABC News.
In March 2020 the US Congress passed a USD 2 trillion rescue fund and the bill was promptly signed by President Donald Trump. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides up to USD 1,200 for income-eligible individual taxpayers, and USD 2,400 for married couples, plus USD 500 per child.
Furthermore, the bill also provides an extension of unemployment benefits by 13 weeks and an additional USD 600 weekly for four months.
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