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The latest Financial Times-Peterson Foundation US Economic Monitor, released on June 4, 2020, reveals how the coronavirus pandemic continues to have significant financial and economic impacts across wide swaths of American society.
The IRS had issued about 150 million direct payments to Americans — totaling nearly $260 billion — to help mitigate the financial burden of the COVID-19 pandemic.
https://www.pgpf.org/blog/2020/05/how-many-coronavirus-stimulus-checks-have-been-sent-out-so-far
The latest Financial Times-Peterson Foundation US Economic Monitor reveals that the coronavirus pandemic is financially impacting the vast majority of Americans, and there is broad-based support for federal response measures.
As of May 5, 2020, the Treasury has disbursed 93 percent, or $140 billion, of the total $150 billion allocated in the Coronavirus Relief Fund.
https://www.pgpf.org/blog/2020/05/what-is-the-coronavirus-relief-fund-how-much-is-left-in-it
SNAP benefits supplement household incomes to help lift people out of poverty.
https://www.pgpf.org/chart-archive/0264_snap_supplements_income
SNAP spending increased during the Great Recession, but is projected to decline below historical levels.
The majority of SNAP beneficiaries are people from vulnerable populations.
https://www.pgpf.org/chart-archive/0282_snap_characteristics
SNAP is the largest federal program aimed at combating hunger and food insecurity among low-income Americans.
The earned income tax credit (EITC) is a measure administered through the tax code to address poverty. It was first enacted in 1975 on a temporary basis amid broader debates about welfare reform and had the primary goal of encouraging people to obtain employment.
https://www.pgpf.org/budget-basics/what-is-the-earned-income-tax-credit
The child tax credit (CTC) is a measure administered though the tax code that is designed to make raising children more affordable by easing the financial burden faced by families.
https://www.pgpf.org/budget-basics/what-is-the-child-tax-credit