Which President Issued Stimulus Checks- A Look Back at the Leaders Behind Economic Relief Measures
Which President Gave Out the Stimulus Checks?
The COVID-19 pandemic has had a profound impact on the global economy, leading to widespread unemployment and financial strain. To alleviate the economic burden on American citizens, the U.S. government has implemented several stimulus packages. One of the most notable aspects of these packages has been the distribution of stimulus checks. But which president gave out the stimulus checks during the COVID-19 crisis? Let’s delve into the history and details of these economic relief measures.
The first round of stimulus checks was authorized by President Donald Trump’s administration. Known as the CARES Act, this legislation was signed into law on March 27, 2020. The primary goal of the CARES Act was to provide immediate financial assistance to American households and businesses affected by the pandemic. Under this act, eligible individuals received a one-time payment of $1,200, with an additional $500 for each qualifying child.
The stimulus checks were part of a broader effort to inject liquidity into the economy and support those most in need. The eligibility criteria for receiving the stimulus checks were based on taxpayers’ 2019 or 2020 tax returns. The amount received was directly proportional to the individual’s adjusted gross income (AGI), with the maximum payment going to individuals with an AGI of $75,000 or less. Married couples filing jointly received a maximum payment of $2,400, while heads of household received a maximum payment of $1,200.
As the pandemic continued to evolve, the U.S. government faced increasing pressure to provide additional economic relief. In December 2020, President-elect Joe Biden’s administration, along with the outgoing Trump administration, agreed on a second stimulus package. This package, known as the Consolidated Appropriations Act, 2021, included a second round of stimulus checks, with eligible individuals receiving a payment of $600.
The distribution of these stimulus checks was managed by the Internal Revenue Service (IRS), which used taxpayers’ 2019 or 2020 tax returns to determine eligibility and calculate the amount of each payment. The IRS also set up a web portal for individuals who had not filed taxes in 2019 or 2020 to provide their information and receive their stimulus checks.
As the pandemic persists, the U.S. government has continued to debate the need for additional stimulus packages. President Biden’s administration has proposed a third round of stimulus checks, which would provide eligible individuals with a payment of $1,400. The fate of this proposal remains uncertain, but it highlights the ongoing efforts to provide economic relief to American citizens during these challenging times.
In conclusion, the question of which president gave out the stimulus checks during the COVID-19 crisis can be answered with two names: President Donald Trump and President Joe Biden. Both leaders have played a crucial role in implementing economic relief measures to help Americans navigate the financial challenges posed by the pandemic. As the situation continues to evolve, the government will likely continue to explore new ways to support its citizens.
