A New Stimulus Proposal Would Give Folks $1,200, With a Very Large Catch

It was this unprecedented physical and financial toll over the very short term that led Congress to pass and the president to sign the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law more than two months ago. The CARES Act was (and still is) a groundbreaking piece of legislation that apportioned $2.2 trillion to aid hospitals, distressed industries, small businesses, the unemployed, working Americans, and even senior citizens receiving Social Security, face the economic hardships that come with shutting down nonessential businesses to limit disease transmission. Without question, though, the allocation of $300 billion for direct payments to the public is what the CARES Act will best be remembered for.