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Consumers should spend their direct cash payment portion of the $2 trillion coronavirus aid package passed by the Senate on basic essentials — or put the funds in an emergency savings account, personal finance and economic experts say. The government aid provides up to $1,200 per person up to certain income thresholds, with an extra $500 per child. The IRS will determine eligibility based on the individual’s 2018 or 2019 tax return. If a taxpayer hasn’t filed those yet, they will need to do so, in order to receive their payment. 06:50. “Before this is over, millions of people will lose their jobs,” said Elise Gould, senior economist at the Economic Policy Institute, a nonprofit think t... Full story

27 March