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1 1 (March 20, 2020)

handle is hein.crs/govcavu0001 and id is 1 raw text is: Researh Sevice COVID-19 and Stimulus Payments to Individuals: Potential Impacts of Direct Payments on Family Incomes March 20, 2020 Several Members of Congress and the Trump Administration have proposed direct cash payments as part of a fiscal response to the economic impacts of the COVID- 19 pandemic. Direct cash payments have previously been part of the federal government's response to economic downturns, most recently in 2001 and 2008. In general, the purpose of direct payments is twofold: (1) they allow families to spend more, and through a multiplier effect help to stimulate the economy; and (2) they provide resources to help meet basic needs for those whose income has decreased due to COVID- 19 infection or potential job loss. This Insight discusses several current direct payment proposals and their impact on family incomes. What direct payment proposals are currently being discussed? Members of both parties, as well as the Trump Administration, have proposed some form of direct payments. These proposals vary in terms of who is eligible to receive a payment, the per-person amount to be paid, and whether payments would be one-time or recurring. Selected direct payment proposals include the following: * a one-time payment of S 1,000 per adult proposed by Senator Romney, * up to two payments of S 1,000 per adult and S500 per child proposed by the Trump Administration, and * a proposal from Senators Bennet, Brown, Booker, King, Murphy, and Schatz to provide recurring payments of $2,000 per individual (adult and child) that would gradually phase down as economic conditions improve. When considering direct payment proposals, one question is how payments would be delivered to eligible Americans. In both 2001 and 2008, direct payments were provided as advance reftmndable tax credits received as a direct deposit or a check in the U.S. mail. Because these payments were made through the tax system, eligible individuals who did not file an income tax return the previous tax year did not receive a payment. In the past, the federal government has also provided additional direct payments to individuals who receive recurring benefits such as Social Security or pensions through the Department of Veterans Congressional Research Service https://crsreports.congress.gov IN11261 CRS }NStGHT Prepaed for Membeivs and Committe's of Conqgress

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