The CARES Act recently passed, which provides a stimulus to the economy during the downturn sparked by the coronavirus outbreak of early 2020. What does this act mean for you? Find out how you can make the most from it, and learn other ways to boost your income if the stimulus doesn't help your household enough, through programs like the Giftloop mobile app.
What Is the CARES Act?
The CARES Act stands for Coronavirus Aid, Relief, and Economic Security. This act helps Americans who have lost their jobs or had reductions in pay to make ends meet during the stay-at-home orders required in most states. The total act pumps $2 trillion in relief money into the economy.
This act provides ways for more people to get unemployment benefits, including those who are freelancers, independent contractors, or work gig jobs and provides delayed payroll taxes as an option for employers. Small businesses can also file for relief funds to help them to stay afloat during the downturn.
How Does the CARES Act Help the Average American?
While some provisions of the CARES Act seem only to apply to businesses, the average American will see a benefit in the form of cold, hard cash. Each American adult who earns under $75,000 will receive a check for $1,200. If you have children, you get $500 per child. Couples earning under $150,000 will get a check for $2,400.
What to Do if You Still Need Extra Money
While getting a check for cash may help in the short term, no one knows how long the impact of this virus will last on the economy. You may need other means of making money while you stay at home.
The Giftloop app lets you earn cash while playing games, doing surveys, watching videos, and trying out new apps. You get fast payouts and don't need a credit card to sign up. It's one way that you can still earn a little extra while stuck at home during this unusual time. Get the Giftloop app from the Google Play store to start earning money today while you wait for the stimulus check to arrive at your home.