News 13 has received a lot of calls from people wanting to know if people on social security or disability will get a stimulus check from the government.
News 13 learned more from U.S. Sen. Richard Burr's office after the U.S. Senate approved the measure Wednesday night. The CARES (Coronavirus Aid, Relief, and Economic Security) Act will distribute up to $1,200 to individuals, $2,400 to married couples and $500 per child. It also includes American retirees who receive Social Security or disability benefits. Singles who make more than than $75,000 and couples who make more than $150,000 don't qualify for the immediate relief payment, but later could receive a tax credit.
You need to have filed a 2019 or 2018 tax return. If the IRS has your bank account information, it will transfer the money via direct deposit. Those on Social Security and SSI Disability can use their Social Security Administration data to make their claim, no tax return is needed. The U.S. Treasury Secretary expects most people to get payments within three weeks. The House is expected to vote on the measure Friday morning.
Here are more details from Burr’s office about what’s included in the CARES Act:
The CARES Act represents the third phase of emergency funding Congress has provided to combat coronavirus and economic uncertainty. It provides relief to doctors, nurses, workers, small businesses, and key industries. Specifically, the CARES Act does the following:
- Provides immediate financial relief to American workers and families who fall below the income threshold by distributing up to $1,200 to individuals, $2,400 to married couples, and $500 per eligible child. This also includes America’s retirees who receive Social Security.
- Provides $117 billion for hospitals and veterans’ health care to increase the supply of drugs, ventilators, and personal protective equipment for health care professionals across the nation.
- Provides $16 billion for the Strategic National Stockpile to procure additional personal protective equipment, ventilators, and other medical supplies.
- Provides $11 billion to increase the development of vaccines, diagnostics, and therapeutics.
- Expands unemployment insurance for independent contractors and self-employed to receive unemployment and increases benefits by adding $600 per week for up to four months.
- Provides $350 billion to help small businesses and their employees by providing eight weeks of cash-flow assistance through 100 percent federally-guaranteed loans for small businesses that maintain employees’ payroll during this emergency. A portion of this loan could be used for rent, interest on mortgage, and utilities. If a company keeps their workers on payroll the full amount of the loan will be forgiven. This provision also includes $10 billion for Small Business Administration emergency grants to help small businesses’ operating costs.
- Provides $150 billion to states, territories, and tribal governments to use for expenditures incurred as a result of this public health emergency.
- Provides $500 billion for America’s key industries, including $29 billion for the airline industry and $17 billion for businesses in national security. The remaining $454 billion will be designated as loans to businesses, states, and municipalities.
- Defers Department of Education student loan payments, principal, and interests, without penalty, through September 30, 2020.
The CARES Act follows two emergency funding packages that Congress passed and President Donald Trump signed into law earlier this month. The first, the Coronavirus Preparedness and Response Supplemental Appropriations Act, provided $7.8 billion to increase federal coordination with state and local officials. It also supported the development and distribution of medical countermeasures to communities across the nation. This legislation passed the Senate by a bipartisan vote of 96-1 on March 5, 2020.