While these payments were a necessary (if often insufficient) lifeline for struggling households, their implementation was beset by problems. Reports came in from around the country of delays in receiving unemployment benefits after filing for them and, for some people, it took weeks to get through to the unemployment office in order to file for benefits. The way the federal government decided to deliver the Economic Impact Payments also led to delays. If the IRS didn’t have someone’s direct CARES Act deposit information on file, then that person would either have to enter their direct deposit information online or wait to receive a check in the mail. In practice, this meant that people who didn’t file their taxes in 2018 or 2019—who were often elderly or had low incomes—had to take extra steps to receive their payments. Now the federal government is debating a second round of financial support, either through the bills working their way through Congress or through executive actions.

Tax Breaks and Credits

In the early days of the COVID-19 pandemic, policymakers had to act quickly to deliver a massive benefit program to households, businesses, and state and local governments in a very short amount of time. Delays or inconsistencies in the delivery of these benefits to households may have been an inevitable—albeit unfortunate—consequence of the speed with which these programs were implemented. What our research shows is that it was not enough to simply offer these benefits to Americans. Preexisting barriers, such as the inability of state governments to handle massive unemployment shocks or the unequal access to banking services in the United States, hindered the efficient and equitable delivery of these benefits. By implementing the CARES Act, Treasury is taking unprecedented steps to preserve jobs in industries adversely impacted by the spread of COVID-19.

Other Government Sites

For example, in January 2023, the Federal Reserve Boardfined Popular Bank $2.3 million for not reporting potential fraudin a timely manner in connection with six loans. The Prosperity Bank settlementdemonstrates that investigations are not solely focused onlarge-dollar recoveries. Unsurprisingly, they appeared to become tales of the “haves” and “have nots” where better funded, larger child care businesses who had the financial and operational structure to apply and manage programs could access funds and those who didn’t were shut out. Conversely, where coaching supports were provided during and after funding, there appeared to be greater and more equitable access. For example, in Texas’s Child Care Provider Expansion Initiative, coaching was provided throughout the application and monitoring phases.

Did CARES Act benefits reach vulnerable Americans? Evidence from a national survey

The House of Representatives passed the CARES Act with a vote of 419 in favor and six against. The Senate approved the CARES Act in a unanimous vote, with 96 in favor and zero against, on March 25, 2020. Unlike the Small Business Interruption loans, these Economic Stabilization loans were not forgivable. The Pandemic Unemployment Assistance (PUA) extended benefits to self-employed individuals, freelancers, and independent contractors.

Here’s What Is In The ‘Families First’ Coronavirus Aid Package Trump Approved

Figures 1 and 2 show the overall rates in receiving unemployment benefits and Economic Impact Payments, respectively. In total, 22.5 percent of respondents to our survey had someone in their household who was either receiving unemployment, had filed for unemployment but was waiting to receive payments, or had attempted to file but could not for some reason. Half of those seeking unemployment (11.9 percent) either had not received their benefit or were unable to apply in late April through mid-May, potentially because they were facing difficulties navigating the unemployment system. Forty-four percent of surveyed households were still waiting to receive their payments in late April through mid-May. They can help by considering opportunities to weave supports and resources into the design of funding initiatives, or seek opportunities to partner with those offering funding initiatives to have greater impact on small businesses successfully utilizing funds. The typical structure that we see for funding opportunities for small businesses in general often sets up a specific group of businesses for success—those that already possess higher levels of business acumen or access to support.

What Was the Biggest Expenditure in the CARES Act?

• The three rules announced today build on the President’s historic Action Plan for Nursing Home Reform and support of President Biden’s April 2023 Executive Order on Increasing Access to High-Quality Care and Supporting Caregivers (Care EO).
• The Emergency Rental Assistance program makes funding available to government entities to assist households that are unable to pay rent or utilities.
• Workers who are on the frontlines interacting with residents and understanding their needs will also be given a voice in developing staffing plans for nursing homes.
• Normally, a taxpayer will qualify for the full amount of Economic Impact Payment if they have AGI of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household, and up to $150,000 for married couples filing joint returns and surviving spouses.
• Each of the loan applications contained materially false statements and included fraudulent supporting documents.
• Dennis Corp. and Dennis fully cooperated in the investigation and resolution of this matter.

The CARES Act can be broken into seven major areas, including benefits for individuals, unemployment assistance, small business relief, big and medium-sized business relief, tax breaks and credits, hospital and health care assistance, and state and local government. Responding to DOJ task force investigation demands is a majorchallenge for many businesses and lending institutions. Therefore,it is important for lending institutions to maintain documentationevidencing they consistently followed established policies forevaluating PPP loan applications. Similarly, businesses thatreceived PPP loans should maintain documentation establishing theireligibility to receive the loans and demonstrating that the loanproceeds were used in accordance with the CARES Act requirementsand terms of the loan. To the extent that businesses were eligibleto receive relief or a waiver from repayment of PPP loans, suchbusinesses should maintain documentation supporting theireligibility for repayment relief or waiver of forgiveness. Althoughmaintaining documentation substantiating these types oftransactions is always critical, it becomes especially importantwhen investigations and/or audits may not occur for several yearsafter the initial transactions.

Relief to defense contractors

People nearing the maximum number of weeks allowed by their state would get an extension. Normally, a taxpayer will qualify for the full amount of Economic Impact Payment if they have AGI of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household, and up to $150,000 for married couples filing joint returns and surviving spouses. The Treasury Department, the Bureau of the Fiscal Service, and the Internal Revenue Service (IRS) rapidly sent out three rounds of direct relief payments during the COVID-19 crisis, and payments from the third round continue to be disbursed to Americans. The Consolidated Appropriations Act (CAA) followed the CARES Act and the American Rescue Plan Act (ARPA) came last. The remaining $454 billion was allocated toward programs and lending facilities operated by the Federal Reserve to support other businesses, states, and municipalities.

• The typical structure that we see for funding opportunities for small businesses in general often sets up a specific group of businesses for success—those that already possess higher levels of business acumen or access to support.
• They could get this if you filed your taxes and opted to have your tax refund directly deposited to a bank account (assuming you received a refund), or if you entered your direct deposit information through the IRS website.
• MIAMI (TND) — A former Miami police officer is on the wrong side of the law, charged with fraud and corruption.
• Future child care investments should come with as few constraints as possible to give local child care businesses discretion over using funds strategically.
• «There are even circumstances where the lender could beaccused of submitting three separate false claims to the governmentfor the same PPP loan—at application, forgiveness, andguaranty purchase.»

Signed into law and signing statement

Fact Sheet: Vice President Harris Announces Historic Advancements in Long-Term Care to Support the Care Economy