COVID Stimulus Part 2

Earlier this year, Congress passed a $2 trillion stimulus package to provide financial relief to individuals and small businesses due to the economic impact of COVID-19.  Over the weekend, a second $900 billion package was approved in a non-partisan fashion in the house and senate.  Here are some of the key components:

  • $600 direct checks to most Americans. This amount will phase out for single filers making $75,000 or more and joint filers making $150,000 or more.
  • $600 per dependent child. Again, with phase-outs as outlined above.  Dependents over the age of 16 are not eligible…excluding college students and disabled adults.
  • Additional $300 of weekly unemployment payments. These additional unemployment benefits will last 11 weeks.
  • $280 billion of additional PPP (Paycheck Protection Program). Most of this is directed to small businesses.

Other areas receive funds including $25 billion for rental assistance and an extension of the eviction moratorium; $13 billion for food stamps and child nutrition; $1.8 billion in tax credits for businesses to provide paid leave; and support for airlines, theater operators, and small performance venues. Details about the timing of distributions should be available before the end of the year.

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 COVID Stimulus – Part 2

  • $600 direct checks to most Americans.
  • $600 per dependent child.
  • Additional $300 of weekly unemployment payments.
  • $280 billion of additional PPP (Paycheck Protection Program).


professional photo of certified financial planner Stewart Welch wearing black suit and red tie

Stewart H. Welch, III, CFP, AEP, is the founder of THE WELCH GROUP, LLC, which specializes in providing fee-only investment management and financial advice to families throughout the United States. He is the author or co-author of six books, including  J.K. Lasser’s New Rules for Estate, Retirement and Tax Planning- 6th Edition (John Wiley & Sons, Inc.); THINK Like a Self-Made Millionaireand 100 Tips for Creating a Champagne Retirement on a Shoestring Budget.




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