January 20, 2021

MarketWatch: Here’s the Maximum Amount Biden’s Stimulus Checks and Tax Credits Would Deliver to America’s Poorest Families

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For the bottom 60% of incomes, the new round of direct payments, plus the two expanded tax credits would average $3,520, equaling around 11% of annual income, the Institute on Taxation and Economic Policy researchers said.

“We are not out of the COVID-19 situation yet and this is what we need,” according to Steve Wamhoff, director of federal tax policy at the Institute on Taxation and Economic Policy.

“I think what’s reckless is to not do enough,” he said, saying too little spending hampered the recovery from the Great Recession. “We would be reckless not to act.”

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