Stimulus checks – Americans ‘could get another $1,400 payment’ as study reveals struggling families need more help

AMERICANS could be set to get another $1,400 stimulus check after a study revealed families hampered by the coronavirus pandemic need more help.

The Economic Security Project is calling for further direct payments to be made to aid those struggling financially due to the ongoing impacts of Covid.


Most respondents to a survey carried out by Bankrate said the money from the third round of stimulus checks would last less than three months, if that.

It also revealed that the majority of people plan to use the cash on monthly expenses, day-to-day essentials and paying off debts.

"We need at least one more check." Adam Ruben, campaign director at the Economic Security Project (ESP), told CNBC.

The research also found that the $1,400 checks will help keep 11million people out of poverty this year.

The report from ESP adds: "Evidence from the last year shows stimulus checks to be the fastest and most impactful investments helping Americans get through this crisis, lifting more people out of poverty than any other single policy."

According to the report, in the past year the three rounds of stimulus checks helped to raise income by 20 per cent for the lowest-income households.

Additional direct payments would help families hit hardest financially by the pandemic, ESP adds.

It comes as push for a fourth stimulus check and additional recurring payments is being backed by up to 74 lawmakers.

Around two weeks after President Joe Biden signed the $1.9 trillion stimulus package into law, more than 20 Senate Dems joined the call for recurring payments in the next stimulus round.

And now more congressional members have joined the progressive push for a continued cash injection into people’s bank accounts.

The effort to push for more checks throughout Covid-19 began in January when U.S. Representative Ilhan Omar and 52 other House Democrats asked Biden and Vice President Kamala Harris to push for recurring checks. 

"Another one-time round of checks would provide a temporary timeline, but when that money runs out, families will once again struggle to pay for basic necessities," the representatives said in the letter sent to Biden and Harris, according to Newsweek.

There are high hopes for a fourth stimulus check after a poll revealed that the "majority of Americans want recurring $2,000 Covid-19 payments."

A fourth stimulus package of $1,400 could bring 7.2 million people out of poverty, according to an analysis published last month by the Tax Policy Center at the Urban Institute & Brookings Institution.

    Source: Read Full Article