As Stimulus Check Proposals Grow More Ridiculous, Expiring Unemployment Benefits Should Take Priority
The Coronavirus Aid, Relief and Economic Security (CARES) Act provided one-time stimulus payments of $1,200 to most adults and $500 for eligible dependent children. The money was desperately needed by many who received it -- the country had been largely shut down, COVID-19 cases were spiking, and millions were out of work.
There's a strong argument to be made that a second, similar payment is necessary, with unemployment still at Great Recession-level highs and an increased likelihood of a second wave of COVID-19.
Unfortunately, U.S. politicians now seem to be putting forth stimulus check proposals that are increasingly ridiculous in how far they stray far from the purpose of the original COVID-19 payment. In recent weeks, President Donald Trump has endorsed the idea of a $4,000 tax credit for travel, while Sen. Martha McSally (R-Arizona) one-upped him by proposing $8,000 in credits per adult per year for three years, plus more money for dependents. U.S. Rep. Kevin Brady (R-Texas) put forth a proposal to provide a $1,200 hiring bonus for those who go back to work.
Source Fool.com
