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Stimulus check latest: What's behind the push for recurring monthly payments?


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The New York Times
SOURCE: https://www.cbsnews.com/news/fourth-stimulus-check-recurring-2021-05-23/
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Summary

But some lawmakers are pushing for a fourth round of stimulus aid that would effectively send recurring payments until the pandemic ends.So far, the federal response to the economic crisis caused by the coronavirus pandemic has delivered $3,200 to each eligible adult: $1,200 via the Coronavirus Aid Relief and Economic Security Act in March 2020; $600 in a December relief measure; and $1,400 under the American Rescue Plan signed in March by President Joe Biden. That's down from about 8 in 10 people in March 2020, when the pandemic caused widespread unemployment, but overall the share of people who need additional support remains elevated more than a year later, according to the personal finance firm.About 1 in 3 people said the stimulus aid would help support them for less than one month, the survey found.Some top economists have called for more direct aid to Americans. More than 150 economists, including former Obama administration economist Jason Furman, signed a letter last year that argued for "recurring direct stimulus payments, lasting until the economy recovers."Although the economy is improving, including a surge in hiring last month, millions of people continue to suffer from reduced income and have not been able to tap government aid programs, said Greg Nasif, political director of Humanity Forward, a nonprofit pushing for recurring stimulus payments. One reason is that the Biden administration is focused on advancing its $2 trillion infrastructure plan, which would reshape the economy by rebuilding aging schools, roads and airports, as well as investing in projects ranging from affordable housing to broadband.The proposal, which the White House says would be funded by boosting the corporate tax rate from 21% to 28%, may be "tougher to pass" than the relief bill that provided the $1,400 checks to most Americans because of opposition from both Republicans and some Democrats, noted Stifel chief Washington policy strategist Brian Gardner last month.Even so, only about one-third of Americans believe the American Rescue Plan will help them a lot, according to a new poll from Politico-Harvard.

As said here by Aimee Picchi