January 8, 2021

Law360: ITEP Says Incomes Of Poorest Would Rise 29% With $2K Checks

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ncreasing economic payments to $2,000 from $600 as part of a coronavirus stimulus bill would have a “significant impact” on the households of lowest-income Americans, a report from the Institute on Taxation and Economic Policy has found.

The study, published Wednesday, found that the poorest 60% of households — those with incomes of less than $65,000 — would see their incomes increase by about 11% from a $2,000 payment. That compares with a 3% increase from the $600 payment that was part of the COVID-19 relief package passed by Congress and signed by outgoing President Donald Trump in December 2020, the study said. Read more