Stimulus check update: Direct payments boosted economy, study says, spurring calls for 4th check

The effects of the Coronavirus stimulus checks A new report shows that this is felt across the economy.

The number of Americans who didn’t have enough to eat fell more than 40% from December 2020 to April 2021, and those struggling to pay their bilis fell 45% over the same period when Congress added new ones Direct payments of $ 2,000 handed over, according to the University of Michigan, citing the US Census Bureau’s Household Pulse Survey.

And the first round of stimulus payments of $ 1,200 under the CARES bill in the amount of $ 2 trillion, according to the Congress budget office.

According to the Household Pulse Survey, an estimated 85% of households received payments. This included 92% of those who made less than $ 75,000 a year and 50% of those who made more than $ 150,000.

There are calls for more stimulus checks because of the Coronavirus pandemic-induced recession. Some lawmakers have said the government should send checks for $ 2,000 every month until the economy fully recovers.

Even if companies are 559,000. added There are still employees from last month 7.6 million fewer workers than in February 2020.

The Peter G. Peterson Foundation, which focuses on tax issues, said those making less than $ 75,000 are more likely to use their stimulus payments for spending or paying off debt. Those who made $ 150,000 or more were able to save a significant portion of their checks.

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Jonathan D. Salant can be contacted at jsalant@njadvancemedia.com. Follow him up @JDSalant.

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