Although Americans are still receiving the third stimulus stimulus, discussions about the fourth round of direct payments to Joe Biden’s trillion-dollar infrastructure proposal have become popular. Just recently, a coalition led by Senate Finance Chairman Ron Wyden (Ron Wyden) and a dozen Democratic leaders wrote to President Biden, demanding “provide much-needed relief for American families.”
U.S. bureaucratic coalition wants to allocate more stimulus spending
Senate Finance Chairman Ron Wyden (Ron Wyden) and 21 Democratic senators hope that US President Joe Biden (Joe Biden) will initiate a fourth round of stimulus payments. The last stimulus payment, $1,400 per person, is still being distributed, as well as funds for more Americans with relatives.
The U.S. Senator has written to Biden asking for more “regular, targeted, automatic and stable direct payments” for U.S. citizens. The coalition emphasized that they want to pay directly “as a priority for priority legislation to be included in President Biden’s next economic recovery plan.”
Four days ago, Bitcoin.com News reported on Joe Biden’s efforts to push Congress to approve his infrastructure plan to “rebuild a better” America. According to preliminary estimates, Biden’s package plan will reach approximately US$2.25 trillion, but Biden seems willing to compromise.
However, with the Democratic Party leader’s letter to Biden, if he agrees to increase direct payments, the stimulus may be even greater. The letter emphasized that the senator was “worried about the cliff faced by unemployed workers when the extension of unemployment insurance expires on September 6.”
Bernie Sanders, Elizabeth Warren, Edward Markey, Sherrod Brown, Debbie Stabenow, Li The letter signed by Richard Blumenthal and others pointed out that the senators believed that there were many reasons for the payment to proceed. Senators believe that President Biden must be bold and immediately help the American people in need.
This letter states:
Now is the time to be bold. As you prepare for a “rebuild better” plan for long-term economic recovery, please know that we are ready to work with you to support regular direct checks and extended unemployment insurance benefits to support Americans who are still struggling in the pandemic.
CPI rose to 2.6%, and politicians and economists agreed to stabilize the economy through automatic payments
However, data this week showed that the annual consumer price inflation rate in the United States jumped to 2.6%, the highest level in two years. After all currencies were created in 2020 and 2021 in mid-March, many reports indicate that Americans have begun to worry about inflation and loss of purchasing power. A number of studies have shown that one study shows that 77% of Americans are worried about rising inflation. It is said that an inflation rate of 2% to 2.6% is considered a myth.
As Bitcoin.com news reported on various occasions, the US bureaucrats and central bank governors do not seem to worry about inflation, and the letter to Biden emphasizes this fact. In addition, Christopher Waller, the new governor of the Fed’s Washington board of directors, is not too worried about accelerating inflation. Waller said in an interview with CNBC: “I do think it will be temporary.”
The letter to President Biden requesting more direct payments also cited a poll that showed that “65% of Americans support regular cash payments during the pandemic.” The letter supported by 21 senators further stated , “54% of Republicans and 60% of independents” also support this idea. The Democrats also received support from economists because the letter emphasized that 150 economists supported the idea of ”automatic stabilizers.”
What do you think of the fourth stimulus check? Let us know your thoughts on this topic in the comments section below.
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