Without government help, the economy is slumping again
Bank of America says the economy needs an additional $1.4 trillion to keep the recovery going.
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Bank of America says the economy needs an additional $1.4 trillion to keep the recovery going.
Presumptive Democratic nominee Joe Biden and his running mate, Senator Kamala Harris, slammed President Trump over his administration's response to the coronavirus pandemic and economic crisis. CBS News political correspondent Ed O'Keefe joins CBSN with the latest developments.
Unemployment stimulus talks ground to a halt on Friday as the unemployment rate dropped to 10.2%. It is unclear what the White House can do to restore federal unemployment benefits that lapsed for millions of Americans last week. Nancy Cordes reports.
President Trump is facing mounting criticism for falsely claiming that 99% of coronavirus cases are "totally harmless." He made the comment over the weekend during a July 4th event at the White House where he continued downplaying the severity of the pandemic. CBS News White House correspondent Paula Reid joins CBSN with more.
"It does make me feel kind of like a second-class citizen in a way, just for who I married," an Illinois woman named Laurie said.
An estimated 1.2 million Americans were left out of the federal stimulus program because their spouses did not have a social security number. Their U.S.-born children did not receive aid either. Adriana Diaz speaks to one woman whose husband is undocumented about how she and her family are getting through the coronavirus pandemic while being left out of the CARES Act.
The IRS has sent 159 million stimulus payments, but lawmakers say millions of seniors and poor Americans are still waiting.
Residents of U.S. territories who collect Social Security are among some of the last groups to receive their checks.
U.S. retail sales dropped 8.7% in March, the biggest one-month plunge on record. This comes as the Trump administration has reportedly outlined plans to begin reopening the economy as the coronavirus continues to claim more lives. CBS News White House correspondent Paula Reid joined CBSN with the latest.
Forbes reports that about 43,000 taxpayers earning more than $1 million annually are each set to receive $1.7 million due to a provision in the CARES Act. Janet Novack, the editor of the money channel for Forbes, joins CBSN to discuss why wealthy Americans are getting these funds.
As the Treasury Department continues sending out stimulus checks to millions of American, some may never get to the hands of those who need it most. Under the CARES Act, anyone with a judgment against them for any private debt could lose their stimulus to a debt collector. CBS MoneyWatch reporter and video producer Irina Ivanova joined CBSN to discuss what kind of debt could be putting your coronavirus relief money at risk.
The government website handling applications for the second round of small business funding crashed minutes after it went online. It's the latest frustration for people trying to survive during the pandemic. Janet Shamlian reports.
President Trump claims the Paycheck Protection Program is doing its job but small business owners are still struggling to receive any help as the federal website continues to have technical glitches. Weijia Jiang reports.
The Labor Department's latest report says roughly 3.8 million Americans filed for unemployment last week. The figure, comparatively lower than the last five weeks, brings the six-week total to 30 million U.S. workers filing jobless claims. The devastating total reflects the coronavirus pandemic's effect on the economy, despite trillions of dollars in stimulus spending. Jill Schlesinger joins "CBS This Morning" to break down the staggering figures.
Some deceased Americans received the emergency relief payments — now the agency wants the money back.
Blocking $500 payments to children because one or both parents are immigrants is discriminatory, lawsuit claims.
Millions of Americans will be getting letters from the president in an envelope sent by the IRS. The letter is meant to inform stimulus check recipients of how much they'll be receiving, but has instead drawn criticism. CBS MoneyWatch contributor Aimee Picchi joins CBSN with more.
The lawsuit, filed on behalf of a U.S. citizen, argues that denying the $1,200 payments is a form of discrimination.
As the coronavirus pandemic deepens, millions of Americans are skipping their credit card payments. In response, banks and other lenders are preparing for further economic fallout. CBS News business analyst Jill Schlesinger joined CBSN with more.
The issue could impact more than 1 million U.S. citizens who file joint tax returns with their immigrant spouses.
"I'm grateful for it, but $1,200 — I'm not sure if it covers much," said one person who has received the payment.
A new IRS tool that was supposed to make it easy to find out when you'll get your money isn't working for some people.
The IRS may not have direct deposit info for taxpayers who used tax prep services and got a tax refund anticipation loan.
But some people who tried using the new IRS.gov service report trouble in retrieving information.
The president's name will appear in the memo line, but Treasury Department says the addition won't delay checks.