This is great news about the next round of stimulus checks

[Andy Meek]

• The latest unofficial stimulus check update we have is good news for anyone hoping that a new check is coming their way soon.
• The chatter had been that Senate Republicans were likely leaning toward including a $40,000/year income cap in new stimulus check legislation.
• A source close to the talks, however, has said that such a cap no longer appears likely.

When the chatter first started circulating that congressional leaders may limit a new round of stimulus checks to people making no more than $40,000 a year -- a much lower income cap than was attached to the first round of checks -- I predicted this ultimately wouldn't come to fruition. If lawmakers feel that conditions are dire enough as a result of the coronavirus pandemic that more direct payments are warranted, better to target them at the most people so the checks do the most good, rather than narrowly aiming them at the people who need them the most. Because as we noted yesterday, for the people who need the checks the most -- they're the people most likely to spend the checks in ways that don't fit what the Trump administration is hoping here. On things like bills and basic expenses, in other words, rather than splurging on things that would help get the economy going again.

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This is great news about the next round of stimulus checks originally appeared on BGR.com on Fri, 17 Jul 2020 at 14:58:41 EDT. Please see our terms for use of feeds.

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