Next week, the IRS is sending out a new stimulus check as part of a six-check string of payments. It’s the latest child tax credit payment, and it’s going out to millions of Americans — at a time when various states around the US are also sending out new stimulus check payments of their own. Such as in one particular state, where a fourth stimulus check for as much as $5,000 is on its way to a few lucky recipients.
New York City has decided to use its $6 billion in COVID-19 federal aid money to offer financial assistance to several different groups. As laid out in the city’s spending plan for its emergency money, the city is steering the financial aid to artists, taxi drivers, and the homeless. In addition to channeling more money in support of ongoing COVID vaccination efforts.
NYC sending out fourth stimulus check
Stimulus checks for artists who’ve been hurt by the pandemic are a key piece of this effort. “The New York City Artist Corps (CAC) represents an historic investment in artists by the City of New York,” reads a report from the city detailing the plan for these payments. “CAC Grants support NYC-based artists who have been disproportionately impacted by COVID-19. “By the program’s end in October 2021, the program will distribute 1,800 one-time grants of $5,000 each to help artists sustain their practice and engage the public in thousands of cultural programs.”
Meanwhile, the city’s coronavirus-related financial aid plan also includes other components. NYC will spend more than $125 million, for example, to support and care for the city’s homeless population. New York City also wants to help small businesses and in particular struggling restaurants. The city plans to offer more than $172 million in financial aid to these businesses with fewer than 100 employees.
That represents an estimated 98% of local businesses.
The rest of the plan
This multi-part, highly detailed plan from one locality involving how it’s putting COVID-related funds to work to help people is much more granular than we’re seeing from other localities that have decided to send out their own stimulus checks.
Also part of New York City’s plan, it’s offering $65 million in financial relief to the city’s taxicab industry. The pandemic hit that industry particularly hard early on, as you can imagine. That’s because millions of people stopped going to work and stayed locked down at home. The goal here is to help taxi drivers, which that city document above adds are also largely immigrants and people of color. The aim is also to ensure that “more taxis are available to the riding public.”
New York City’s Taxi Medallion Owner Relief Program website has more details. The plan includes financial support that encompasses a $20,000 down payment to help restructure medallion-related loans. As well as $9,000 in monthly debt payment assistance.