COVID-19 Relief Programs Have Helped Consumer Financial Well-Being

Abstract: In response to the 2020 COVID-19 pandemic, the federal government set up a series of programs to help consumers. The first legislation was the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March 2020, followed by other packages throughout 2020, including December’s Coronavirus Response and Relief Supplemental Appropriations Act. That legislation provided stimulus checks, enhanced unemployment benefits, small business loans, rental assistance, and nutrition assistance. In March 2021, the American Rescue Plan Act of 2021 included enhancements to those five programs as well as an increased child tax credit and funding for schools that reopened their doors.

Keywords: COVID-19;

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Consumer Finance Institute Research Briefs and Special Reports

Publication Date: 2021-07-21

Pages: 2