This applies for those who have no income, as well as those whose income comes entirely from non-taxable means-tested benefit programs, such as SSI benefits. The rebate amount is reduced by $5 for each $100 that a taxpayer's income exceeds the phase-out threshold ($75,000 individual, $150,000 married). The amount is completely phased-out for single filers with income exceeding $99,000, for head of household filers with one child exceeding $145,000, and joint filers with no children exceeding $198,000. If you have questions about this rebate, you can visit www.IRS.gov/coronavirus or you can call my office. Many small businesses have been forced to shut their doors in order to comply with guidance from state and local authorities. The CARES Act provided $349 billion for Small Business Administration (SBA) loan guarantees to help businesses across the country. SBA loans can be used for payroll costs, group health care benefits, employee salaries, interest on any mortgage obligation, rent, utilities, and any other debt obligations occurred before Feb. 15, 2020. If you are a small business owner and would like more information on the help available to you, please contact my office.
The House will vote soon on the third COVID-19 response bill, the CARES Act. It’s not a perfect bill, but there is no such thing as a perfect bill. This will bring much needed relief to the American people and help us to recover from the pandemic.— Markwayne Mullin (@RepMullin) March 27, 2020
The CARES Act is truly an example of a whole government approach to fighting this pandemic. It helps medical professionals get access to the equipment they need on the front lines and agriculture producers put food on tables across our country. States, Tribes and local governments got necessary funding to continue their response efforts and industries who have been hit hardest by COVID-19 are also seeing relief. This is only the beginning of a long recovery from coronavirus. In Oklahoma, we call it the Oklahoma Standard. Neighbors helping neighbors through hard times. Together, as a country, we will help our neighbors and get through this together.