Reuters: Millions of U.S. households would not get COVID-19 payments under new Biden plan

The Institute on Taxation and Economic Policy calculated that those payments now would help 11.8 million fewer adults and 4.6 million fewer children than the more generous version that passed the House.

But 200 million adults and 80 million children would still see benefits, the left-leaning think tank estimated.

“For the bottom 60% of Americans, the folks who really need help, there would be basically no difference at all,” ITEP analyst Steve Wamhoff said.

The lower caps would reduce the cost of the massive package by between $13 billion and $20 billion, they said – roughly 1% of the total. Read more

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