Nonprofit considers additional payments essential – Community News
Stimulus Check

Nonprofit considers additional payments essential

(NEXSTAR) — Three rounds of stimulus checks have helped Americans weather the COVID-19 pandemic by distributing nearly $850 billion in direct payments.

Now the nonprofit Economic Security Project is calling for a fourth — and fifth — stimulus check.

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“A year of stimulus measures lifted Americans out of poverty during the pandemic,” the group said in a tweet Thursday. “It turns out that instant cash payments do indeed work.”

The nonprofit’s argument for revolving payments revolves around the utility of the cash infusion, which is attributed to lifting millions out of poverty. The group’s data project states that the $1,400 incentive checks, child tax credit and other benefits in the US bailout plan will lift 16 million Americans out of poverty, with a fourth and fifth check lift 12 million more out of poverty.

“Cash has been the leading force in reducing poverty during one of the deepest recessions in modern history, and is one of the few policies that can reduce persistent poverty, income and wealth imbalances between Americans of color and white Americans,” he said. the group. wrote.

The Economic Security Project, a guaranteed income supporter, is projecting additional incentives to continue lifting people out of poverty. Additional stimulus would also disproportionately help minority households that have struggled more than white households to cover basic spending during the pandemic, their study found.

“Evidence from the past year shows that stimulus measures are the fastest and most impactful investments helping Americans get through this crisis and lift more people out of poverty than any other single policy,” the group wrote.

Is a 4th stimulus check likely?

A Data for Progress poll found that 65% of Americans support the idea of ​​$2,000 recurring payments during the pandemic. While that research may have shown support, the plan probably won’t find much in a stalled Washington.

A big problem for a plan like this: There aren’t enough voices in the middle speaking out for another round of relief. For that reason, many experts believe it simply isn’t possible.

“I think it’s unlikely at this point,” Ed Mills, Washington policy analyst at Raymond James, recently told CNBC.

Biden didn’t have an easy time pushing his latest emergency bill through Congress, with Republicans arguing it was just too much money. Democrats barely passed the measure through a process that allowed them to pass the legislation by simple majorities.

The government has issued three direct payments since the start of the coronavirus pandemic. About a year ago, the government sent $1,200 incentive checks to most Americans through the CARES Act. In late 2020, the government approved payments of $600 per person. That was followed by the third stimulus payment of $1,400.

In the latest round of COVID relief efforts, the US government said it has sent about 159 million direct payments to households, worth $376 billion in total.