1、CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i COVID-19 and Direct Payments to Individuals: Economic Impact Payments (EIPs) for Social Security and Supplemental Security Income Beneficiaries Updated November 16, 2020 The Coronavirus Aid, Relief, and Economic Security (
2、CARES) Act (P.L. 116-136) provides emergency relief measures in response to the Coronavirus Disease 2019 (COVID-19) pandemic. Section 2201 of the CARES Act provides recovery rebates for most individuals, structured as automatically advanced tax credits disbursed by the Treasury Department. The Inter
3、nal Revenue Service (IRS) refers to the payments made in 2020 as economic impact payments (EIPs). (These payments are also known as “stimulus checks” or “stimulus payments.”) By late September 2020, more than 160 million payments totaling almost $275 billion had been disbursed. This Insight addresse
4、s EIPs from the perspective of Social Security and Supplemental Security Income (SSI) beneficiaries. Overview of Economic Impact Payments (EIPs) Eligible individuals can receive an EIP of $1,200 per person ($2,400 for married joint filers) via direct deposit, check by mail, or prepaid debit card (in
