Introduction
The Coronavirus Aid, Relief and Economic Security (CARES) Act provides stimulus checks to eligible families and individuals, referred to by the Internal Revenue Service (IRS) as Economic Impact Payments (EIP). The act provides qualified individuals with a refundable tax credit of up to $1,200 ($2,400 for married couples filed jointly), plus $500 per qualifying dependent child. The rebates start to phase out above $75,000 of the taxpayer’s AGI ($150,000 for married couples, and $112,500 for heads of household) at a rate of 5 cents per dollar.
In this blog, we present and analyze recently-released data on the first round of EIPs, distributed during March of 2020, including distributional outcomes. These data distinguish between payments that were sent electronically, by paper check, or by debit card, and present the amounts and number of payments to individuals with or without qualifying dependents. Apart from national aggregates, the IRS also presents state level data on this first round of EIPs.
National Aggregates
Figure 1 presents distribution methods for the first-round EIPs by AGI group and by filing status. Overall, 76 percent of the payments were made electronically, 22 percent of them were delivered by paper check, and the other 2 percent were delivered by debit card. Tax units with higher AGI were more likely to receive their payments electronically while those with lower AGI tended to receive their payments through paper check. For example, on average 60 percent of the individuals with AGI below $20,000 received the stimulus payment electronically compared to 80 percent of those in the $30,000 to 60,000 AGI bracket. Most individuals received the EIP either electronically or by paper check, only a small fraction received it through debit card, and it is highly concentrated on the top AGI group (AGI above $100,000).
Figure 2 presents average EIP amount, total payments, and number of payments by AGI group. A total of 161.9 million EIPs were distributed by March 2020. The average EIP was $1,676, for a total of $271.4 billion distributed by March 2020. Previously, PWBM estimated the first round of the EIPs would total $285 billion for calendar year 2020.
Average payment amount is $1,395 for those in the $1 to $10,000 AGI bracket—as higher-income households are more likely to be married and have children, the average benefit steadily increases with AGI to $2,366 for those in the $100,000 to $200,000 bracket. The average payment decreases to $597 for those with $200,000 or more AGI due to the EIP phaseouts.
Variation by State
The interactive map below provides detailed state-level data on the first-round EIPs: percentage of payments with and without a qualifying child, average payment amount, method of distribution, and the number of payments sent out per 2018 tax return.1 Most states issued more payments than the number of returns filed in 2018, with exceptions in states like New Jersey, Connecticut, and DC, where fewer stimulus payments were issued compared to the number of tax returns filed in 2018. We did not see much variation across state in terms of the share of individuals with child dependents. However, we do see that a larger share of individual with qualifying dependents received the payment electronically compared to those without qualifying children. This pattern is consistent across all states.
Please view online for interactivity.
This analysis was conducted by Xiaoyue Sun and Victoria Osorio. Prepared for the website by Mariko Paulson.
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Eligibility for the first round of the EIP was based on tax returns filed for Tax Year 2019—or Tax Year 2018, if a Tax Year 2019 return was not filed. We therefore use Tax Year 2018 returns to calculate number of payments per return. ↩
US Total 161943888 271421554 1.06 0.778 0.222 1676.02 0.757 0.221 0.022 0.749 0.251 0.874 0.126 0.819 0.181
Alabama 2520501 4243599 1.22 0.765 0.235 1683.63 0.779 0.184 0.037 0.744 0.256 0.84 0.16 0.842 0.158
Alaska 354697 609827 1.02 0.761 0.239 1719.29 0.763 0.236 0.001 0.726 0.274 0.877 0.123 0.793 0.207
Arizona 3484125 5918266 1.13 0.768 0.232 1698.64 0.764 0.234 0.002 0.737 0.263 0.869 0.131 0.859 0.141
Arkansas 1540606 2650191 1.25 0.764 0.236 1720.23 0.753 0.209 0.038 0.742 0.258 0.833 0.167 0.827 0.173
California 18108968 29600287 1 0.782 0.218 1634.57 0.719 0.281 0.001 0.75 0.25 0.864 0.136 0.793 0.207
Colorado 2744340 4601299 0.99 0.79 0.21 1676.65 0.755 0.191 0.055 0.764 0.236 0.895 0.105 0.796 0.204
Connecticut 1691299 2732359 0.96 0.799 0.201 1615.54 0.757 0.185 0.059 0.773 0.227 0.903 0.097 0.816 0.184
Delaware 494516 821513 1.05 0.785 0.215 1661.25 0.763 0.184 0.053 0.756 0.244 0.889 0.111 0.843 0.157
District of Columbia 328256 448637 0.94 0.83 0.17 1366.73 0.766 0.189 0.044 0.813 0.187 0.894 0.106 0.855 0.145
Florida 11304707 18514948 1.11 0.792 0.208 1637.81 0.778 0.211 0.011 0.765 0.235 0.885 0.115 0.895 0.105
Georgia 5123112 8580506 1.12 0.748 0.252 1674.86 0.782 0.216 0.002 0.724 0.276 0.836 0.164 0.782 0.218
Hawaii 730144 1232420 1.05 0.789 0.211 1687.91 0.687 0.312 0.001 0.746 0.254 0.882 0.118 0.8 0.2
Idaho 860042 1590789 1.1 0.759 0.241 1849.66 0.745 0.254 0.001 0.72 0.28 0.874 0.126 0.787 0.213
Illinois 6025347 10027547 0.99 0.78 0.22 1664.23 0.774 0.225 0.001 0.751 0.249 0.879 0.121 0.802 0.198
Indiana 3328962 5822314 1.06 0.765 0.235 1748.99 0.78 0.219 0.001 0.735 0.265 0.873 0.127 0.777 0.223
Iowa 1541039 2747102 1.06 0.772 0.228 1782.63 0.764 0.18 0.056 0.738 0.262 0.896 0.104 0.83 0.17
Kansas 1370494 2442706 1.03 0.761 0.239 1782.35 0.754 0.244 0.002 0.725 0.275 0.873 0.127 0.769 0.231
Kentucky 2354487 4032821 1.23 0.777 0.223 1712.82 0.777 0.222 0.001 0.756 0.244 0.851 0.149 0.791 0.209
Louisiana 2357143 3910130 1.2 0.745 0.255 1658.84 0.775 0.185 0.04 0.722 0.278 0.827 0.173 0.822 0.178
Maine 755920 1271740 1.13 0.822 0.178 1682.37 0.751 0.202 0.047 0.795 0.205 0.916 0.084 0.841 0.159
Maryland 2859828 4612506 0.95 0.773 0.227 1612.86 0.753 0.188 0.059 0.743 0.257 0.89 0.11 0.79 0.21
Massachusetts 3298914 5249775 0.95 0.811 0.189 1591.36 0.733 0.199 0.068 0.784 0.216 0.913 0.087 0.808 0.192
Michigan 5061845 8627576 1.06 0.79 0.21 1704.43 0.753 0.247 0.001 0.76 0.24 0.882 0.118 0.783 0.217
Minnesota 2716524 4721051 0.97 0.78 0.22 1737.90 0.741 0.257 0.002 0.743 0.257 0.885 0.115 0.79 0.21
Mississippi 1542953 2575625 1.26 0.741 0.259 1669.28 0.76 0.201 0.039 0.719 0.281 0.804 0.196 0.841 0.159
Missouri 3103417 5351832 1.1 0.777 0.223 1724.50 0.751 0.248 0.001 0.745 0.255 0.874 0.126 0.804 0.196
Montana 559778 978117 1.09 0.799 0.201 1747.33 0.708 0.29 0.002 0.761 0.239 0.89 0.11 0.807 0.193
Nebraska 922479 1659444 1.01 0.755 0.245 1798.90 0.769 0.174 0.057 0.72 0.28 0.892 0.108 0.815 0.185
Nevada 1596919 2624466 1.1 0.781 0.219 1643.46 0.774 0.224 0.001 0.754 0.246 0.873 0.127 0.87 0.13
New Hampshire 707748 1184262 0.99 0.815 0.185 1673.28 0.763 0.179 0.058 0.789 0.211 0.922 0.078 0.824 0.176
New Jersey 4169435 6807058 0.93 0.785 0.215 1632.61 0.736 0.199 0.065 0.753 0.247 0.895 0.105 0.806 0.194
New Mexico 1071985 1787812 1.15 0.774 0.226 1667.76 0.755 0.209 0.036 0.74 0.26 0.882 0.118 0.846 0.154
New York 9848010 15723095 1.01 0.798 0.202 1596.58 0.738 0.207 0.055 0.769 0.231 0.894 0.106 0.831 0.169
North Carolina 5152360 8722225 1.11 0.773 0.227 1692.86 0.763 0.232 0.005 0.745 0.255 0.861 0.139 0.89 0.11
North Dakota 367792 650236 1.01 0.766 0.234 1767.94 0.732 0.201 0.067 0.725 0.275 0.897 0.103 0.815 0.185
Ohio 6136466 10248235 1.09 0.786 0.214 1670.05 0.774 0.225 0.001 0.76 0.24 0.878 0.122 0.762 0.238
Oklahoma 1937277 3381517 1.18 0.759 0.241 1745.50 0.786 0.179 0.034 0.737 0.263 0.845 0.155 0.825 0.175
Oregon 2158237 3601722 1.1 0.812 0.188 1668.83 0.739 0.26 0.001 0.784 0.216 0.889 0.111 0.804 0.196
Pennsylvania 6561454 10994157 1.05 0.797 0.203 1675.57 0.756 0.194 0.05 0.768 0.232 0.905 0.095 0.823 0.177
Rhode Island 565824 909146 1.04 0.805 0.195 1606.76 0.763 0.184 0.052 0.777 0.223 0.909 0.091 0.835 0.165
South Carolina 2623258 4423344 1.15 0.773 0.227 1686.20 0.761 0.234 0.005 0.744 0.256 0.861 0.139 0.912 0.088
South Dakota 441106 795022 1.05 0.77 0.23 1802.34 0.73 0.212 0.058 0.732 0.268 0.888 0.112 0.827 0.173
Tennessee 3524349 5992076 1.15 0.777 0.223 1700.19 0.794 0.204 0.002 0.759 0.241 0.849 0.151 0.817 0.183
Texas 13256460 22853507 1.05 0.735 0.265 1723.95 0.786 0.171 0.043 0.709 0.291 0.837 0.163 0.802 0.198
Utah 1356301 2596943 0.99 0.719 0.281 1914.72 0.777 0.222 0.001 0.682 0.318 0.85 0.15 0.76 0.24
Vermont 343498 577317 1.05 0.82 0.18 1680.70 0.706 0.237 0.057 0.784 0.216 0.927 0.073 0.823 0.177
Virginia 4011528 6743958 1.01 0.775 0.225 1681.14 0.783 0.169 0.048 0.75 0.25 0.884 0.116 0.802 0.198
Washington 3652184 6148723 1.01 0.795 0.205 1683.57 0.77 0.229 0.001 0.768 0.232 0.887 0.113 0.81 0.19
West Virginia 976622 1663183 1.28 0.803 0.197 1703.00 0.78 0.218 0.003 0.781 0.219 0.882 0.118 0.828 0.172
Wisconsin 2939210 5112753 1.02 0.793 0.207 1739.50 0.734 0.265 0.001 0.757 0.243 0.892 0.108 0.784 0.216
Wyoming 282145 504873 1.03 0.772 0.228 1789.41 0.751 0.245 0.004 0.737 0.263 0.878 0.122 0.8 0.2
All Returns 161.9 0.76 0.22 0.02
No AGI 1.4 0.25 0.74 0
$1 - $10,000 AGI 20.7 0.57 0.42 0
$10K-20K AGI 19.5 0.67 0.33 0
$20K-30K AGI 18 0.78 0.22 0
$30-60K AGI 37.6 0.81 0.19 0
$60K-100K AGI 25.2 0.78 0.15 0.07
$100K-200K AGI 17 0.74 0.17 0.09
$200K or more 0.4 0.61 0.24 0.16
No tax return 22.2 0.92 0.08 0
Single 69.1 0.69 0.3 0.01
Married filing a joint return 46.2 0.74 0.2 0.05
Married filing separate returns 3 0.63 0.35 0.02
Head of household 21.4 0.85 0.14 0.01
Qualifying Widow/Widower 0.1 0.77 0.21 0.02
All Returns 161.9 1676 271421.55
No AGI 1.4 1729 2398.16
$1 - $10,000 AGI 20.7 1395 28825.44
$10K-20K AGI 19.5 1573 30695.23
$20K-30K AGI 18 1601 28801.06
$30-60K AGI 37.6 1690 63453.49
$60K-100K AGI 25.2 1952 49267.14
$100K-200K AGI 17 2366 40196.18
$200K or more 0.4 597 246.38
No tax return 22.2 1240 27538.48