Stimulus check update: Direct payments boosted economy, study says, spurring calls for 4th check
The impact of the coronavirus stimulus checks have been felt throughout the economy, a new report shows.
The number of Americans who didn’t have enough to eat dropped by more than 40% from December 2020 to April 2021, and those who had problems paying their bilis declined by 45% during the same period, as Congress passed $2,000 in new direct payments, according to the University of Michigan, citing the U.S. Census Bureau’s Household Pulse Survey.
And the first $1,200 round of stimulus payments in the $2 trillion CARES Act accounted for a 0.6% boost in the U.S. economy, according to the Congressional Budget Office.
An estimated 85% of households received payments, according to the Household Pulse Survey. That included 92% of those making less than $75,000 a year and 50% of those making more than $150,000.
There are calls for more stimulus checks due to the coronavirus pandemic-induced…