The Breakdown
Understanding The Three Phases Funding To Combat COVID-19
America faces a daunting public health crisis, and Congress continues to work diligently to bring substantial relief to families, workers, and small businesses. As you may have seen in the media, three phases of targeted relief are on their way. But what specific provisions are included in these phases and what do they mean?
Below, I’ve compiled a comprehensive breakdown of each phase and have included relevant information from different committees, bulletins, and verified resources. As we move forward, I will continue to keep you abreast of new developments related to these relief packages.
Phase I: H.R. 6047, The Coronavirus Preparedness and Response Supplemental Appropriations Act)
One Pager
Phase II: H.R. 6201, The Families First Coronavirus Response Act
Topline Information From The House Ways & Means Committee Republicans
Deep Dive Into Provisions From Ways & Means Republicans
Combined Phase I & II Analysis From The House Republican Conference
Phase III: S.3548, Coronavirus Aid, Relief, and Economic Security [CARES] Act
In Depth Summary
Topline Analysis
Supplemental Appropriations Summary From The Senate Appropriations Committee
Frequently Asked Questions On Coronavirus Legislation
Ways & Means Republicans Blog Site
COVID-19 Guidance For Small Businesses
One Pager
**SBA List of Lenders Eligible to Issue Paycheck Protection Program Loans
Guidance On Paid Leave Provisions
Information From The Department of Labor
Joint IRS, Department of Labor, and Treasury Guidance
Guidance From The Treasury Department
Updated Information Segmented By Committees
Appropriations
CARES Act Phase III Detailed Funding Summary
CARES Act Phase III Highlights
Education & Labor
CARES Act Phase III Education and Labor Provisions
Energy & Commerce
Topline Summary of Phase III of The CARES Act
Financial Services
One-Pager On Relief For Banks And Credit Unions
Two-Pager On Relief For Distressed Main Street Businesses
Summary of Housing Funding In The CARES Act
Guidance On International Financial Institutions
One Pager On PPP Allocations
House Administration
Elections & Legislative Branch Provisions
**Small Business Committee **
One-Pager On CARES Act Small Business Provisions
CARES Act Small Business Loans FAQ
Paycheck Protection and Loan Forgiveness
Ways & Means
Key Unemployment Insurance Provisions
Information From The IRS On Economic Impact Payments
Who is eligible for the economic impact payment?
Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.
Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child.
How will the IRS know where to send my payment?
The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.
For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.
The IRS does not have my direct deposit information. What can I do?
In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.
I am not typically required to file a tax return. Can I still receive my payment?
Yes. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.
How can I file the tax return needed to receive my economic impact payment?
IRS.gov/coronavirus will soon provide information instructing people in these groups on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.
I have not filed my tax return for 2018 or 2019. Can I still receive an economic impact payment?
Yes. The IRS urges anyone with a tax filing obligation who has not yet filed a tax return for 2018 or 2019 to file as soon as they can to receive an economic impact payment. Taxpayers should include direct deposit banking information on the return.
I need to file a tax return. How long are the economic impact payments available?
For those concerned about visiting a tax professional or local community organization in person to get help with a tax return, these economic impact payments will be available throughout the rest of 2020.
Where can I get more information?
The IRS will post all key information on IRS.gov/coronavirus as soon as it becomes available.
The IRS has a reduced staff in many of its offices but remains committed to helping eligible individuals receive their payments expeditiously. Check for updated information on IRS.gov/coronavirus rather than calling IRS assistors who are helping process 2019 returns.
Where is my refund?
Learn more about refund processing time and track the status of your refund here: https://www.irs.gov/refunds
Agency Resources and Hotline Contact Information
Below, please find agency-by-agency information, guidance, and contact information.
Resources – Below, please find agency-by-agency resources and guidance.
- U.S. Department of Health and Human Services (here)
- U.S. Department of Education (here)
- U.S. Department of Agriculture (here)
- U.S. Department of Labor (here)
- U.S. Department of Homeland Security (here)
- U.S. Department of State (here)
- U.S. Department of Veterans Affairs (here)
- U.S. Environmental Protection Agency (here)
- U.S. Department of the Treasury (here)
- U.S. Small Business Administration (here)
- Centers for Medicare and Medicaid Services (here)
Hotlines – Below, please find contact information for agencies that offer COVID-19 hotlines.
- FDA’s hotline (1-888-INFO-FDA) is available 24 hours a day. You may also be interested in the COVID-19 Frequently Asked Questions page, which contains information on vaccines, diagnostic tests, drugs, medical devices, food and other products FDA regulates.
- The Department of State has the following resources: The Smart Traveler Enrollment Program (STEP) Website: http://step.state.gov is the single most important place for Americans abroad to register to be in contact with and receive updated messages from the State Department regarding repatriation assistance. Any constituent who needs information regarding repatriation assistance can call the State Department at: 1-888-407-4747 (inside the United States) or 202-501-4444 (outside the United States). These lines are answered 24 hours a day, 7 days a week.
- The Department of Education’s Federal Student Aid customer care line remains open at 800-4-FED-AID.
- The Centers for Disease Control and Prevention can be reached at 800-CDC-INFO (800-232-4636). This is a hotline for the public with questions about anything related to the CDC. Information is also available on the CDC INFO website.
- The Department of Defense offers resources for constituents to take action and stay informed about COVID-19. You can sign up for email updates and check this page regularly for the latest information. The COVID-19 pandemic and our national response continues to evolve by the minute. If you have any questions, please visit https://www.tricare.mil/coronavirus.
- The U.S. Army has established a COVID-19 Information Hotline at 1-800-984-8523.
Guidelines For Reopening America
White House Task Force Guidelines
COVID-19 Guidelines For America
Guidance On Facemasks
CDC Guidance For People In Critical Infrastructure Roles
Response and Recovery Through Federal-State-Local-Tribal Partnership
Critical Infrastructure Guidance
Rural Resource Guide
COVID-19 Fact v. Myth
The Department of Justice’s COVID-19 Fraud Prevention Website
Federal Trade Commission Fraud Prevention Website
Addiction & Substance Abuse Resource Fact Sheet