Tag: stimulus

Mnuchin: Trump ‘Absolutely Prepared’ to Back More Stimulus Money

President Donald Trump is “absolutely prepared” to back more stimulus money to restore the economy after it was crippled by the coronavirus pandemic, Treasury Secretary Steven Mnuchin said Monday.

“We have put $3 trillion out,” Mnuchin told Fox Business’ Maria Bartiromo. “If we need to put more money out to support American businesses, American workers, the president is absolutely prepared to do that.”

Conversations have started on a bipartisan basis on another phase of coronavirus stimulus financing, as everything that has been done so far has been accomplished with “overwhelming bipartisan support,” said Mnuchin.

To date, four packages have been approved by Congress, including the $2.2 trillion CARES Act that was signed at the end of March, including the $349 billion Paycheck Protection Program. 

“Working with Congress we were able to get $3 trillion that we are pumping into the economy,” said Mnuchin. “As it relates to states, part of

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Local father can’t get stimulus money because of back child support

JOELTON, Tenn. (WTVF) — While millions of Americans should start seeing their COVID-19 relief check in their bank accounts this week, potentially millions of others may not able to see the money.

Parents who are behind on their child support payment can have their checks deducted or used completely depending on how much is owed. The CARES Act may have suspended back taxes or student loan debt, which would normally require garnishment of tax refunds, but back child support isn’t included. It’s specifically mentioned as subject to collect from the Treasury Offset Program (TOP), a department that collects federal and state debt.

“I need help too,” Joelton father Jeffrey Coker told NewsChannel 5. “I don’t think it’s fair that I’m not getting a stimulus check because I owe back child support.”

Coker, 35, admitted he’s fallen short by the thousands in his 14 years of child support payments, and was

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Stimulus Check for SSI Recipients with Children

An extra $500 per child will be added to stimulus checks for disabled, blind, or elderly Supplemental Security Income recipients who didn’t file a 2018 or 2019 tax return…if they beat an upcoming deadline.

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By Rocky Mengle, Tax Editor

April 27, 2020

If you’re a disabled, blind, or elderly person who receives Supplemental Security Income (SSI) benefits, you’ll automatically get a $1,200 electronic stimulus payment if you didn’t file a 2018 or 2019 tax return. (If you did file a return for one of the last two years, the amount of your payment will be based on information contained on your most recent return). However, non-filers who receive SSI benefits, and have (or take care of) children 16 years old or younger, can get an extra $500-per-child added to their stimulus check—if they act before May 5.

SEE ALSO: Your 2020 Stimulus Check: How Much? When? And Other

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Columbus Man Gets Millions in Stimulus Money By Mistake

While many are still waiting for their stimulus check due to the COVID-19 pandemic, one man in Columbus went to the ATM to find the IRS mistakenly deposited millions of dollars into his bank account!

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It was a regular visit to the ATM for 18-year-old Melik Pointer when he suddenly realized that he was a millionaire, but only temporarily!  Pointer checked his balance only to learn that his running total was $4,999,285.52

Pointer told 10TV that he thought it was a mistake and had to double-check, “I thought it was all fake, I thought it was a gimmick.”  Pointer isn’t the only person this has happened to.  It was reported earlier this week that an Indiana man mistakenly received

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Harvard to Pay Back Coronavirus Stimulus Money, Trump Says

Harvard University plans to repay the federal government money it received as part of a stimulus package to help small businesses struggling with coronavirus lockdowns, U.S. President Donald Trump said on Tuesday, after the funding for the university drew fire.

Speaking at a daily briefing at the White House, Trump also said 20 states were moving ahead quickly to reopen following the lockdown. 

On the subject of the loans, Harvard reportedly nettled nearly $9 million in aid through the Paycheck Protection Program.

“Harvard’s going to pay back the money, they shouldn’t be taking it,” Trump said. “They have one of the largest endowments anywhere in the country, maybe the world I guess, and they’re going to pay back that money.”

He added that some large companies, unnamed in his briefing, would also pay back funds obtained through the pandemic loan program. Harvard has an endowment worth more than $40 billion,

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Harvard won’t ‘seek or accept’ federal stimulus money after calls from Trump to return cash

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Harvard University announced in a statement Wednesday that it will no longer “seek or accept” aid from the CARES Act Higher Education Emergency Relief Fund, one day after President Trump demanded the Ivy League school return federal relief cash.

The prestigious university had received nearly $9 million in federal funds through one of the government’s relief programs doled out through the Department of Education, but the allocation drew backlash from Trump.

The president on Tuesday claimed the university was receiving money through the Paycheck Protection Program, which is intended to help struggling small businesses. Harvard has denied ever applying for or receiving any funds through PPP, and has clarified that the type of funding it received was given to most other U.S. colleges and universities, to be used for direct financial assistance to

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Harvard says to keep stimulus grant after Trump vows it will be returned

WASHINGTON (Reuters) – Harvard University said it plans to keep an $8.6 million grant it received as part of a stimulus package to blunt the economic impact of the coronavirus lockdown, contradicting U.S. President Donald Trump who pledged the university would return it.

U.S. President Donald Trump reacts to a question from a reporter during the daily coronavirus task force briefing at the White House in Washington, U.S., April 21, 2020. REUTERS/Jonathan Ernst

Speaking at a press briefing on Tuesday, Trump pointed to the institution’s ample endowment – worth nearly $41 billion – as the reason why it should hand over the money.

“Harvard is going to pay back the money and they shouldn’t be taking it,” Trump said, adding that Harvard has one of the largest endowments “in the country, maybe in the world.”

In a statement issued moments after the briefing ended, however, Harvard said it planned “to

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