$250 Stimulus Check In 2009 For Retirees, SSI and Disabled Vets

The 2009 stimulus package signed by president Obama contains quite a few financial stimulus for many different parts of the population.  Infrastructure spending, tax cuts make up most of the bill but one of the key aspects to the package is a special cash payment.  This won’t be like the general stimulus check of last year but will be given to select groups.

[update – find out about the new $250 stimulus check in 2010 for SSI recipients]

[update – find out about the new $250 stimulus check in 2010 for Social Security recipients]

[update Dec 16 – $250 stimulus check in 2010 – Is it enough?]

$250 stimulus check in 2009

A one time payment of $250 will be paid out in 2009 for people in the following groups:

  • People currently receiving Social Security.
  • State government retirees not eligible for Social Security.
  • Disabled Veterans receiving pensions from the Department of Veteran Affairs.
  • People receiving SSI payments. Supplemental Security Income payments are for people who have little to no income and is intended to meet the basic needs for food, clothing and shelter.

When will I get my stimulus check?

Treasury is supposed to start sending out these checks as soon as possible.  This site will be updated when more information becomes available.

EDIT (Mar 11) – Please check out this new post for detailed information on the $250 stimulus check.

More information (update May 2009)

Social Security 2009 stimulus check.

$250 SSI 2009 stimulus check.

Social Security Recipients Stimulus Check 2010 – FAQ


2009 Stimulus Package Passed – Was There A Stimulus Check?

The 2009 stimulus package bill has been very controversial because nobody knows for sure how much stimulus is needed to get the economy back on track or what form the stimulus should take.  A stimulus check 2009 giving cold, hard cash to the population would certainly be a popular choice but it looks like tax cuts and infrastructure spending will make up the bulk of the stimulus package.  There will however be a $250 stimulus check in 2009 for selected groups.

Let’s take a look at what this bill contains and what was left out:

Tax cuts

This is the 2009 equivalent to the stimulus check of last year – Tax cuts in the order of $400 for individuals and $800 for couples.  This is a bit less than the original stimulus tax cut proposals of $500 per individual and $1000 per couple.  This isn’t as exciting as receiving a stimulus check in the mail but is basically the same thing since it means more cash in your pocket.

$8,000 tax credit for first-time home buyers

This tax credit was originally planned to be a $15,000 tax credit, however it has been reduced to $8,000 which is still a pretty good break.  The tax credit is not a loan so it doesn’t need to be paid back.

This tax credit applies to any houses bought between January 1, 2009 and November 30, 2009.  To qualify individuals must make less than $75,000 and couples must make less than $150,000.

Infrastructure spending

A good portion of the approximately $800 billion package will go to infrastructure projects such as schools, highways, energy and technology projects.

Tax break on AMT

$70 billion of this package will be going towards allowing millions of middle-class Americans from paying the dreaded AMT (alternative minimum tax) which was originally intended to prevent higher income Americans from avoiding the payment of any income tax but due to inflation creep – is now applicable to lower salaries.

Limits on Wall Street bonuses

This applies to financial companies that are accepting government bailout funds.  The rule is that any bonuses for executives can’t be more than 1/3 of their regular salary.  The other catch is that the bonuses have to be paid in company stock which doesn’t vest until the government bailout money is paid back.

I think this is a great idea – these executives are the ones who took too many risks in the first place so reducing their pay makes sense to me.  One could argue of course that maybe those executives shouldn’t still be in charge but apparently that is the case.

This measure will only work in the short term since any new executive contracts will have much higher base salaries if the stimulus limits are applicable.  Hopefully there won’t be a slew of “new contracts” for various executives with higher base pay.

$250 stimulus check for select groups

There will be a $250 stimulus check for select groups.

Update –Will there be a stimulus check in 2010?]


Will There Be A Second Stimulus Check In 2009?

The question all Americans want to know is whether they will receive a late Christmas present this year in the form of a 2nd economic stimulus check.

In 2008 the government sent out economic stimulus checks to 130 million Americans with the idea that this money would be spent on consumer goods and services thereby stimulating the economy. While the program was considered a success by some – it didn’t prevent the economy from slowing down into a recession with the possibility of a depression.

President-elect Obama has proposed an economic stimulus package for 2009 which will total almost 1 trillion dollars – or about $3300 for every single American.

Second economic stimulus check

So far there has been no mention of any stimulus checks (like in 2008) however that doesn’t mean it won’t happen. Nothing has been approved or finalized so it is still possible. If a second economic stimulus check is going to happen in 2009 it would be more likely to appear later in the year if it looks like the initial stimulus efforts are not doing enough to get the economy going.

Stimulus tax cuts

Obama has proposed stimulus tax cuts of $1,000 for couples and $500 for individuals. If this passes, it might be the closest thing to an actual stimulus check that most Americans will receive in 2009. This kind of stimulus is not as much fun as getting a large check all at once since it would take the form of reduced withholding taxes on regular paychecks. However, in the end – extra money is extra money.

Emergency Energy rebate

One of the more controversial initiatives is an energy relief plan to help Americans pay their energy bills this winter. The $1,000 emergency energy rebate would be given directly to Americans and would be paid for by windfall profit taxes on the large oil companies.
This particular initiative might not have much of a chance given that with the rapidly dropping price of oil, home heating costs are going to be a lot lower than initially predicted as recently as a couple of months ago.

Infrastructure stimulus spending

The Obama stimulus plan is calling for a huge investment in roads and bridges and mass transit improvements. This will total $850 billion over 2 years. This portion of the plan is the main driver behind the goal to create 2.5 million jobs over 2 years.

$250 stimulus check for select groups

There will be a $250 stimulus check for select groups.


When Will You Get Your Early Economic Stimulus Rebate Check?

“When will I get my economic stimulus rebate check?” is one of the big questions that Americans are asking themselves at the moment. Actually I’ve been asking that question as well but I’m not holding my breath for it!

The economic stimulus checks started on April 28 and will continue through to mid-July of 2008.

The schedule for people who filed their taxes by April 15 is based on the last 2 digits of their SSN – Social Security number. If you filed jointly then the payments will go out based on the person listed first on the return.


Last two SSN digits: Payments will be transmitted no later than:
00 through 20 May 2
21 through 75 May 9
76 through 99 May 16


Last two SSN digits: Payments will be mailed no later than:
00 through 09 May 16
10 through 18 May 23
19 through 25 May 30
26 through 38 June 6
39 through 51 June 13
52 through 63 June 20
64 through 75 June 27
76 through 87 July 4
88 through 99 July 11

If you couldn’t get your act together to file your taxes by April 15 (but you did file since then right?) then you will get your rebate about 2 weeks after the scheduled date. You need to file your taxes by October 15 in order to get a rebate this year.

Here is the IRS online calculator to figure out how much your rebate will be.

If you are confused about whether this rebate is actually a loan then this post should clear things up.