So far, the general understanding people have about President Biden’s $ 1.9 trillion stimulus package is that it will give them another $ 1,400 stimulus check.
Some people have criticized Biden’s stimulus package for failing to honor the $ 2,000 stimulus checks promised during the presidential campaign.
A new analysis of the plan, however, argues that it will actually put a lot more than $ 1,400 in the pockets of many Americans.
On the $ 1.9 trillion economic bailout proposed by President Biden, which includes perks like funding to provide most Americans with a new stimulus check, Democrats found themselves in a delicate situation with regard to messages related to the stimulus bill.
Then-President-elect Biden last month promised Georgian voters that if they send two Democrats to Washington DC in that state’s runoff election, $ 2,000 stimulus checks will “come out” at once. Imagine, Biden cheered on Georgian voters at a campaign event, what it will ‘mean for your life – put food on the table, pay the rent, pay your mortgage, pay the credit card, pay the bill phone bill, gas bill, electricity bill. ” Except that not only did those stimulus checks not come out as promised, but they won’t come out for $ 2,000 either. The Democrats’ awkward message got to – well, when you include the Trump administration’s $ 600 checks at the end of his term, added to the new $ 1,400 checks Biden promised, that makes $ 2,000.
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On a related note, the Biden administration received a bit of help defending the stimulus package this week from a non-left-wing think tank called the Institute on Taxation and Economic Policy. An analysis by this entity analyzed the Biden plan and related proposals from the House Ways and Means Committee and found that, rather than simply providing the poorest Americans with $ 1,400 stimulus checks, the House’s proposal Biden’s coronavirus-related stimulus would actually give them $ 3,600 in total. financial aid.
According to the institute, the 20% of Americans who earn less than $ 21,300 a year would receive an average of $ 3,590 from the Biden plan. This comes from a combination of the $ 1,400 stimulus checks as well as the expansion of the child tax credit and the earned income tax credit.
Remember when Biden got elected and we would have checks at the door?
February is half over and my back account looks suspicious that there is no stimulus.
– Nikola Tesla (@Maybe_Im_Cody) 13 février 2021
On a related note, these two new Democratic Senators from Georgia – who ended up winning their second round – tried to reframe people’s expectations for their stimulus checks during a press conference with the chief of the Democratic majority in the Senate, Chuck Schumer, a few days ago. “Sen. (Rafael) Warnock and I are here to help Georgian families who are counting on us for their help during this pandemic, ”Georgia Senator Jon Ossoff said. “This bill will send $ 8,200 in new federal financial support to an average family of four in Georgia as we invest heavily in vaccines and the health response to end this pandemic.
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Andy is a reporter in Memphis who also contributes to media outlets such as Fast Company and The Guardian. When he’s not writing about tech, he can be found leaning protectively over his burgeoning vinyl collection, as well as nurturing his Whovianism and gorging on a variety of TV shows you probably don’t like. .
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