Chairman Neal Introduces the CASH Act to Provide $2,000 Payments to Americans in Need
WASHINGTON, DC – Today, Ways and Means Committee Chairman Richard E. Neal (D-MA) introduced the Caring for Americans with Supplemental Help (CASH) Act of 2020 to increase the amount of money struggling Americans receive in a second round of direct payments to $2,000. Upon introducing the new legislation, Chairman Neal said:
“For months, Democrats have consistently sought to provide Americans with a substantial second round of direct financial assistance. Now that the President has finally endorsed that idea as well, we’re ready to immediately pass the CASH Act to put an additional $2,000 into the pockets of folks in need. Congressional Republicans must join us in this effort and not block critical relief from reaching families who are hurting.”
The CASH Act:
- Increases the value of the economic impact payments (EIPs) provided in the end-of-year COVID relief package so that each eligible family member receives $2,000, up from $600.
- Applies the same, broader eligibility established in the end-of-year package to mixed-status families where one spouse has a Social Security Number (SSN). As specified in the latest COVID relief legislation, these families are eligible for the EIP amount for each family member with an SSN, and can claim the corresponding amount for the first round of economic impact payments when they file their 2020 taxes.
Text of the legislation is available HERE.