President Biden
Joe BidenGraham’s Post-Election Call With Georgia Secretary of State Will Be Investigated: Overnight Defense Report: Pentagon, Congress Appoints Panelists to Rename Confederate Bases | Military Approves 20 More Coronavirus Vaccination Teams Lawmakers Give Standing Ovation for Officer Eugene Goodman MOREAccording to a survey by data and research firm Morning Consult, 22.6 million Americans could pay their bills for at least four and a half months with the proposed $ 1,400 coronavirus checks.
The analysis comes as debates continue on the extent and number of incentive checks to include in the next round of COVID-19 support.
To evaluate the impact of the incentive, Morning Consult analyzed data on household finances and found that a new incentive targeting low-income adults would help prevent exacerbating financial problems, beyond just getting people out of trouble .
In January, about 30.2 million Americans were unable to pay their bills, according to the study. Of those, 75 percent missed their bills by less than $ 300 – a 7 percent improvement from the previous month.
Morning Consult said this shows that while previous stimulus checks did not solve the recipients’ financial problems, it reduced their overall debt.
The cost to the U.S. economy will ultimately be lower if the government can help people stay out of debt rather than helping them recover, Morning Consult said.
Incentive vouchers sent out March 1 would allow Americans to pay their bills through mid-July without going deeper into debt when making the payments or tapping into their savings.
“The cost of sending significantly larger incentive vouchers to everyone far outweighs the benefits of helping relatively few additional Americans,” wrote Morning Consult, adding that for maximum economic benefit, the new incentive must target those who receive it. need it most.