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Topic: Coronavirus Aid, Relief, and Economic Security (CARES) Act  (Read 1161 times)

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FishingAddict

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https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package

Cash payments:
Estimated to total $300 billion. Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.

The checks start to phase down after that and disappear completely for people making more than $99,000 and couples making more than $198,000.

Extra unemployment payments: The $260 billion estimated cost is subject to change based on the number of people filing for unemployment.

The bill makes major changes to unemployment assistance, increasing the benefits and broadening who is eligible. States will still continue to pay unemployment to people who qualify. That amount varies state by state, as does the amount of time people are allowed to claim it.

This bill adds $600 per week from the federal government on top of whatever base amount a worker receives from the state. That boosted payment will last for four months.

For example, if an out-of-work person is receiving the national average of about $340 per week, under the new federal program their take-home pay will be $940.

The legislation also adds 13 weeks of unemployment insurance. People nearing the maximum number of weeks allowed by their state would get an extension. New filers would also be allowed to collect the benefits for the longer period

Covers; Small Businesses, Large Businesses etc..
« Last Edit: April 06, 2020, 01:49:53 PM by FishingAddict »
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RacinRob

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The latest on the extra $600 as of today is this; CA has not figured out how to modify their system to include this yet. There is no timeline as to when it will be implemented. They have not coordinated with the federal Govt yet to get it going. Not only is this true for the people already receiving unemployment, but it is even worse for gig workers and self employed workers since they normally are not eligible to receive assistance. Under the CARES act self employed are to be included in the payments, but no one has any idea how to implement it as of today.
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I'm applying for an EIDL tomorrow, SBA, do not have to repay...10,000$  Hope it flies, business landlord is not offering any relief not that she is obligated to.  All rent is due as the lease states.  I'm sure they have bills as well...
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Applied for sba Friday but have not heard back yet. Alot of fine details, do your research before accepting a loan
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Eddie

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Applied for sba Friday but have not heard back yet. Alot of fine details, do your research before accepting a loan
Did you find it to be a forgivable loan?  They might be calling it a loan for legal reasons. 

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.
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crash

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Applied for sba Friday but have not heard back yet. Alot of fine details, do your research before accepting a loan

Dude I still owe you money from the last job. Where you want the $$$?
"SCIENCE SUCKS" - bmb


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Applied for sba Friday but have not heard back yet. Alot of fine details, do your research before accepting a loan

Dude I still owe you money from the last job. Where you want the $$$?
I know I've been slacking on venmo. Had bigger fish to fry I Believe the saying goes
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Sailfish

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https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package

Cash payments:
Estimated to total $300 billion. Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.

The checks start to phase down after that and disappear completely for people making more than $99,000 and couples making more than $198,000.

Extra unemployment payments: The $260 billion estimated cost is subject to change based on the number of people filing for unemployment.

The bill makes major changes to unemployment assistance, increasing the benefits and broadening who is eligible. States will still continue to pay unemployment to people who qualify. That amount varies state by state, as does the amount of time people are allowed to claim it.

This bill adds $600 per week from the federal government on top of whatever base amount a worker receives from the state. That boosted payment will last for four months.

For example, if an out-of-work person is receiving the national average of about $340 per week, under the new federal program their take-home pay will be $940.

The legislation also adds 13 weeks of unemployment insurance. People nearing the maximum number of weeks allowed by their state would get an extension. New filers would also be allowed to collect the benefits for the longer period

Covers; Small Businesses, Large Businesses etc..

Thanks for the info and link Mel.
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FishingAddict

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The latest on the extra $600 as of today is this; CA has not figured out how to modify their system to include this yet. There is no timeline as to when it will be implemented. They have not coordinated with the federal Govt yet to get it going. Not only is this true for the people already receiving unemployment, but it is even worse for gig workers and self employed workers since they normally are not eligible to receive assistance. Under the CARES act self employed are to be included in the payments, but no one has any idea how to implement it as of today.

Yes you're right I hope they fix it soon.

https://www.mercurynews.com/2020/04/07/coronavirus-state-extra-600-jobless-payments-amid-economic-meltdown-jobs-layoff-tech/

“The EDD is still sorting through the latest details received late Sunday about the additional $600 payments to be paid for by the federal government on top of the weekly state unemployment benefits claimants are receiving now,” EDD officials said in an email to this news organization.

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FishingAddict

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My stimulus check came in today from the IRS via direct deposit.  Check yours.
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rockfish

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My stimulus check came in today from the IRS via direct deposit.  Check yours.


same.


I'm glad too, we've spent about 1,200 getting home office for two set up and still need to buy a new Microsoft license for Amys "work from home" computer. and I'm going to pass a chunk of it on to our "renter" (sister in law) who has suffered a loss in hours at work even though she's an 'essential' food manufacturing employee.
Less Mental than before, Still savage AF tho <3

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crash

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My bank website is crashing and the telephone queue is 279 minutes.

Seems to be going smoothly
"SCIENCE SUCKS" - bmb


Mojo Jojo

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My bank website is crashing and the telephone queue is 279 minutes.

Seems to be going smoothly
Wow your bank sucks, our online banking is still smooth and fully functional.


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