Pandemic-era Economic Impact Payments reached 92% of potentially eligible individuals, according to a report from federal researchers.
92% of eligible individuals received Economic Impact Payment: study
May 10, 2023 / By ICBA
Pandemic-era Economic Impact Payments reached 92% of potentially eligible individuals, according to a report from federal researchers.
Pandemic-era Economic Impact Payments reached 92% of potentially eligible individuals, according to a report from federal researchers.
Details: The study on the CARES Act emergency payments to individuals and families found:
55% of people who received an EIP did so in the first week the payments were made, and 95% received their EIP within six weeks.
Younger individuals, lower-income families, and families with children received EIPs more quickly, likely due to the higher rate at which these groups receive tax refunds via direct deposit.
Receipt rates were near 90% for most race and ethnicity groups, but they were highest for White individuals.
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