Some people could get more than $14,000 in new stimulus payments – here’s how
- Here's a stimulus update with a finding that most people might not be aware of: Forget the $1,400 stimulus checks you've been reading so much about, because the real amount of federal aid coming to families in 2021 is much higher.
- When you add up the benefits included in President Biden's $1.9 trillion economic rescue legislation, some families will actually be getting more than $14,000 in 2021.
- That's through a mix of direct stimulus payments, plus an expanded child tax credit, and more.
Here's the latest stimulus update, for anyone wondering what the effect will be of the federal government's latest infusion of money into the economy in response to the coronavirus pandemic.
Basically, everyone is focused on the wrong number. Yes, $1,400 is generally the amount of the millions of new stimulus checks about to be sent out, but the outsized attention that figure and those checks have been getting in the press really misses the forest for the trees. Because when you step back and look at all of the COVID-related relief that families will have gotten from Uncle Sam by the time 2021 winds down, it will actually be around $14,000 in some cases, and maybe even higher -- enough that Ed Mills, Washington policy analyst at Raymond James, thinks a kind of shadow universal basic income (UBI) has arrived in the US as a result of all this.
Today's Top Deal
FDA EUA-authorized Powecom KN95 masks are back in stock at Amazon - and they're discounted!
Price: $19.99
You Save: $3.51 (15%)
Buy Now
Today's Top Deals
- Your cable company’s worst nightmare only costs $59 at Amazon
- Amazon shoppers are so obsessed with this brilliant $25 bathroom storage cabinet
- Belkin’s best-selling power strips start at just $10 in Amazon’s big sale
Trending Right Now:
- Researchers find ultimate smoking gun in dinosaur extinction
- Experts finally pinpointed the cause of so many coronavirus outbreaks
- $1,400 stimulus checks are coming, but the $15 minimum wage is dead
Some people could get more than $14,000 in new stimulus payments – here’s how originally appeared on BGR.com on Fri, 26 Feb 2021 at 12:11:44 EDT. Please see our terms for use of feeds.