I am a lifelong Democrat who worked hard to elect Democrats in 2020. However, I agree with the group of 10 moderate Republican senators that the proposed stimulus checks are not targeted enough. It’s my understanding that households with incomes up to $300,000 could receive some of this money. That’s ridiculous!
Sen. Portman’s suggestion of capping payments at $100,000/household or $50,000/person is much more reasonable. Better yet, use the money where it’s most needed: to shore up unemployment insurance and the ACA/Medicaid, help those in need to pay rent/mortgages, or rescue businesses from bankruptcy.
Let’s learn from the last round of stimulus checks. Columnist Steve Chapman points out that 90% of Americans got some money — double the number who say they’ve suffered economically from the pandemic. Not only will the proposed checks go to many who don’t need the money, they won’t do much to stimulate the economy. Only 40% of the first round was used to buy goods and services, per the National Bureau of Economic Research. The rest went into savings or to pay down debt.
Here is a link to Steve Chapman’s column: https://www.chicagotribune.com/columns/steve-chapman/ct-column-stimulus-payments-biden-1400-chapman-20210127-wmplo2424ve7llvh6ecn7sgm6a-story.html
If you agree that Biden’s proposed stimulus checks are largely a waste of money, please contact President Biden, Sen. Duckworth and Sen. Durbin.