These senators are calling for additional monetary aid for households

A participant posts a sign on her car ahead of a caravan rally on the Las Vegas Strip on Aug. 6, 2020 to support the $ 600 increase in unemployment benefits.

Bridget Bennett | AFP | Getty Images

Capitol Hill lawmakers are working on a new coronavirus relief bill that will include new $ 1,400 stimulus checks and expanded unemployment insurance.

Now a group of senators are calling on the government to take this step further and conduct recurring economic reviews and automatic unemployment insurance renewals when the economy recovers.

“This crisis is far from over and families deserve the reassurance of putting food on the table and keeping a roof over their heads,” the legislature, led by Senator Ron Wyden, D-Ore, wrote in one Letter to President Joe Biden on Tuesday.

“Families shouldn’t be exposed to ever-changing legal deadlines and ad hoc solutions,” they said.

More from Personal Finance:
Will the unemployment benefit end after a year?
Covid Relief Bill will not extend the eviction ban, which expires this month
Elizabeth Warren, Bernie Sanders propose a 3% wealth tax on billionaires

Other senators who have signed the letter include Sherrod Brown, D-Ohio; Bernie Sanders, I-Vt .; Elizabeth Warren, D-Mass .; Alex Padilla, D-Calif .; Cory Booker, DN.J .; Michael Bennet, D-Colo .; Ed Markey, D-Mass .; Kirsten Gillibrand, DN.Y .; and Tammy Baldwin, D-Wisc.

The heads of state and government do not explicitly state in the letter how high the additional direct controls or the extended unemployment benefit should be.

However, they cite several reasons for continuing both forms of aid during the long-term economic recovery.

Stimulus checks and improved unemployment benefits work well together, especially given the fact that millions are excluded from unemployment insurance, argue the leaders.

Senator Ron Wyden, D-Ore., Speaks during a Senate Finance Committee nomination hearing for Deputy Treasury Secretary Adewale Adeyemo on February 23, 2021.

Greg Nash | Pool | Reuters

“Direct payments are critical to helping families in difficulty that unemployment insurance does not cover,” said the senators.

In addition, the stimulus checks can help alleviate poverty, they wrote. Research by the Urban Institute last year found that a then-proposed second round of $ 1,200 economic reviews, coupled with increased unemployment, could help lift 12 million people out of poverty.

When the first $ 1,200 checks the government sent last year expired, poverty mounted, the senators point out.

The leaders also note the support the payments have received from both the public and experts.

In November, a group of more than 150 economists wrote an open letter calling for additional stimulus controls. In it, they called payments an “essential tool” in the fight against poverty.

Congress has since approved second $ 600 stimulus checks that were mailed to qualified Americans in January.

Washington lawmakers are currently working on a follow-up package that will include direct payments of $ 1,400 per person. It would also increase federal unemployment benefits by an additional $ 400 per week and extend those payments through August.

The package would also increase the child tax credit for one year, which would include monthly payments of up to $ 300 per child. In total, families could get more than $ 14,000 in aid in what some have called a test for universal basic income.

It’s not the first time lawmakers have required monthly checks to be sent to American families to help them fight the coronavirus pandemic. A Senate proposal tabled last year would send $ 2,000 per person plus $ 2,000 per child for up to $ 10,000 per month to families earning less than $ 100,000.

This bill was introduced by Senator Kamala Harris, D-Calif., Along with Sanders and Markey.

Comments are closed.