Coronavirus Florida: Stimulus checks will help, but for some not enough

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Coronavirus Florida: Stimulus checks will help, but for some not enough

John Hielscher Staff Writer Nearly a third of Americans say the $1,200 checks won’t last a month. This content is being provided for free as a public service to our readers during the coronavirus outbreak. Sign up for our daily or breaking newsletters to stay informed. If local news is important to you, consider becoming a digital subscriber to the Sarasota Herald-Tribune. *** Americans will start receiving their much-ballyhooed stimulus checks starting next week, but will the money make that big a difference? Not for some. Two-thirds of Americans expect to get a stimulus payment from the program aimed at providing financial relief during the coronavirus pandemic. But, according to a poll by personal finance web site Bankrate.com, 31% of them say it won’t sustain their financial well-being for even a month, including 8% who believe it won’t be enough to help them at all. “This payment will not be a financial panacea, but it is sorely needed by millions,” said Greg McBride, chief financial analyst at Bankrate. “For those already suffering from income disruptions, the payment will be needed for day-to-day essentials and monthly obligations.” #apolloLink{color:#000;background-color:#F4BE11;text-shadow: none;padding: 8px 15px 10px;font-family: ‘Roboto’, sans-serif;font-weight: 600;border-radius:10px;} See our complete coverage of the coronavirus outbreak Only some people are eligible for their payments, which are tied to their annual adjustable gross incomes, or earnings after top-line deductions. Those with with incomes up to $75,000 will get $1,200, and couples with incomes under $150,000 will receive $2,400. All can receive an additional $500 payment per child under age 17. Smaller checks will go out to individuals with incomes up to $99,000 and couples earning less than $198,000, with the payment amount falling by $5 for every $100 over that level. In the survey, half who expect to get a check plan to use […]

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