Lawmakers want the White House to approve a fourth stimulus check for Americans who are struggling financially, but they think future relief should be tied to economic conditions.
As Newsweek reported on Wednesday, the Trump Administration has been sent two letters from 26 Democrats pushing for enactment of "automatic stabilizers" such as expanded unemployment and stimulus checks. They say this will help keep partisan gridlock at bay during COVID-19 pandemic relief packages which were stalled by Republicans in Congress last year.
Automatic stabilizers would help lawmakers avoid negotiations tied to each relief package. One possibility is to use unemployment as the automatic stabilizer, though any economic indicator might work.
The number of jobless Americans who fell below a predetermined level would trigger a relief payment when the unemployment rate rises above that level and automatically pulled back when it falls below that marker.
A growing number of Democrats continue to push more financial relief in the form of a one-time payment or recurring payments. President Joe Biden has not committed to another stimulus, and his latest plans don’t call for any new spending on additional tax credits. However, he is still interested in tackling child care expenses and other costs that families face every day with their children through potential tax breaks
All throughout America, people are debating the best way to provide relief for those who have fallen on hard times. Some want a one-time payment or recurring payments while others favor tax credits for child care and other expenses. What do you think is better?
But many Americans say more stimulus money is needed to help those who keep struggling financially. Even though the U.S. economy has shown strong growth of late – it ticked up at an annualized rate of 6% during the first quarter -many Americans remain in tough economic straits, with about four out 10 saying their income remains below its pre-pandemic levels, CBS News reported citing data from TransUnion
But there are some signs that this may be changing for American households and individuals alike as a result of continued job creation (though wage gaps have yet to close) and increased access to credit card debt relief among others things).
As of Wednesday, nearly 2.2 million people had signed a Change.org petition urging lawmakers to pass legislation for recurring $2,000 monthly payments with the hope that it will alleviate some financial burdens caused by stagnant wages and high living expenses such as rent in many parts of the country. While only 21 senators are currently on board with this idea - all Democrats - at least two-thirds (67%) of California residents could be in line for an additional stimulus payment if Governor Gavin Newsom's proposed plan is approved later this week when he unveils his multibillion-dollar spending proposal which includes $600 checks issued every month until 2021!
The United States is taking care of its citizens. 165 million Americans have received their third stimulus payments in the last two months since Joe Biden’s American Rescue Plan passed, which benefited a staggering $1,400 per person total!
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