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The Coronavirus Aid, Relief, and Economic Security Act, [b] [1] also known as the CARES Act, [2] is a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID-19 pandemic in the United States.
The $2.2 trillion CARES Act included stimulus payments up to $1,200 per qualifying adult, plus $500 bonus for children under 17. Here’s what else you need to know about the stimulus payments in ...
Families First Coronavirus Response Act, enacted March 18, 2020; $104 billion; CARES Act, enacted March 27, 2020; $2.2 trillion; HEROES Act, passed by the House of Representatives on May 15, 2020, but never enacted into law; $3 trillion; Consolidated Appropriations Act, 2021, enacted December 27, 2020; included $900 billion in COVID-19 relief
Tax rebates as part of the Economic Stimulus Act of 2008; First coronavirus stimulus (called "EIP 1" by the IRS), as part of the CARES Act, March 2020; Second coronavirus stimulus ("EIP 2"), as part of the Consolidated Appropriations Act, 2021 (Dec. 2020) Third coronavirus stimulus ("EIP 3"), as part of the American Rescue Plan Act of (March) 2021
A massive hike in the national debt could require new forms of taxation within the next five years. ... 800-290-4726 more ways to reach us. Mail. Sign in. Subscriptions; Animals. Business.
The US national debt topped a psychologically important milestone of $35 trillion in recent days and has risen by $1 trillion since January — mounting by nearly $5 billion every day so far in 2025.
Due to the COVID-19 pandemic, Congress and President Trump enacted the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 18, 2020. The Congressional Budget Office estimated that the budget deficit for fiscal year 2020 would increase to $3.3 trillion or 16% GDP, more than triple that of 2019 and the largest ...
By Erik NorlandThe 1980s and 1990s often featured Fed Chairs Paul Volcker and Alan Greenspan advising the U.S. Congress that if they wanted to lower interest rates, they needed to rein in budget ...