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In the recent stimulus package passed by President Obama earlier this year, otherwise known as the American Recovery and Reinvestment Act of 2009, Obama provided many forms of stimulus and stimulus checks to provide the economy. The only mentions of a 2009 stimulus check for the American public were in two places in the recently passed Stimulus bill.
The first is a 2009 stimulus check for those on social security incomes, military pensions and railroad pensions. This is a $250 2009 stimulus check that is a one time payment similar to the 2008 stimulus check that President Bush issued last year. To qualify for the 2009 stimulus check you had to have already been on social security by the end of 2008 to receive your 2009 stimulus check in May 2009. If you started your social security income January 1, 2009 or later you do not qualify for this years stimulus check. However if there is a 2010 stimulus check similar to how the 2009 stimulus check worked you would qualify next year for that stimulus check.
The second part of the 2009 stimulus check is a tax rebate that amounts to $400 if you are single or $800 if you are married over the course of 2009. Starting in April 2009 the government is lowering the taxes withheld from your paychecks to the amount of about about $20/week so that over the course of the year it would amount to $400 (or $800). This is the only 2009 stimulus check that is available to those that are working. The 2009 stimulus check is essentially a $400 check paid over the course of the year.
This 2009 stimulus check that is being paid out weekly via a tax rebate will be in effect for 2010 as well. The amount of the money making up the 2010 stimulus check on a weekly basis is less then this years $20/week because it is spread out over the course of the entire year instead of 8 months.
There is not a singular 2009 stimulus check for those on employment, it is split up into several incentives. President Obama provided the following ways to help those on unemployment through the 2009 stimulus package.
Longer unemployment benefits – The stimulus bill adds an additional 20 weeks of unemployment benefits for those on unemployment. If you live in one of the 30 states are considered a high unemployment rate state, you will qualify for an additional 13 weeks of unemployment benefits on top of the 20 already provided.
Tax exemption – Normally those on unemployment have to pay taxes on all benefits they receive during the course of the year, either weekly or at the end of the year at tax season. The 2009 stimulus package states that the first $2,400 of unemployment benefits are tax free and will be exempt from all federal income taxes. This would make for a $2,400 2009 stimulus check that is freed money paid to those on unemployment.
Increased weekly unemployment payments – The 2009 stimulus package is increasing temporally the weekly unemployment payouts by $25/week.
COBRA Insurance – The US Government as part of the 2009 stimulus package is subsiding 65% of the COBRA payments for those that were laid off from work between Sept 1,2008 and Dec. 31, 2009. There is also an additional 60 day period that people can sign up for COBRA after they have been laid off.
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