Hana Schank and Tara McGuinness, write for the Fast Company about the CARES Act, the relief measures the US has taken and the impending problems that arise in the wake of implementation of the Act.
The CARES Act in short is nothing but Coronavirus Aid, Relief, and Economic Security Act. It provides funds for large business, small businesses, airlines, and individuals.
Individuals can request $1,200, more if they have children under 18. The bill also increases unemployment benefits—providing an additional $600 on top of what people can get from their state. Whereas, due to the complex web of bureaucratic requirements many people won’t be getting what they need anytime soon, and maybe not at all.
The Payroll Protection Program (PPP)
The PPP, part of CARES that helps small businesses has announced that it has run out of money. It also stopped accepting any more applications. The checks will also be delayed in order to emblazon President Donald Trump’s name on them.
Rising troubles
- Only half of an anticipated 150 million payments have made it into people’s accounts.
- The delivery was not thoroughly thought through.
- People receive “status not available” messages from the IRS portal when they try to see when they might get their checks.
- Others weren’t even able to log in.
- The structured bill has accidentally left out the very neediest.
- To avail a stimulus check from the federal government one has to file taxes.
- But 10 million low-income families don’t earn enough to file taxes.
Practical problems
Sometimes people have to fill out the forms in one location. And present identifying documentation in another. Sometimes it means the only place to submit a form is at some out-of-the-way location during business hours. So people have to take off from work to apply for food assistance or take three trains and a bus with young children in tow to be placed in a new family shelter.
The $2 trillion stimulus package that doesn’t factor in what people actually need. As a result, a lot of that money will never reach the people it is intended to help.
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Source: Fast Company
