IRS Tells College Students to Claim Money from Covid-19 Stimulus
Published Date: 12/22/2020
Source: Bloomberg Quicktake: Now
The $900 billion in pandemic relief that passed the House and Senate late Monday is aimed squarely at shoring up the U.S. economic recovery into the early spring as battered industries and workers face months of continuing struggle. The funds were combined with $1.4 trillion to fund regular government operations for the rest of the fiscal year, in massive legislation that runs 5,593 pages. It includes other tax, energy and national-security provisions that lawmakers agreed to pass before the end of the year. The pandemic relief package includes help for small businesses and the jobless along with direct payments to most Americans. It also provides funding for vaccine distribution, food assistance, tax breaks and money for education and child care. The provisions aimed at the fallout from the coronavirus represent the second-largest economic rescue package in American history, behind the $1.8 trillion virus relief package that was signed into law just nine months ago. It surpasses the $787 billion stimulus passed in response to the financial crisis in 2009. Together with the omnibus spending bill, the total package is worth more than $2.3 trillion. The legislation also included a number of tax benefits, some unrelated to the Covid-19 crisis. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake