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.”

US Senator News Service President Biden jointly conducts fourth round of stimulus inspections

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.

See also  Netflix will provide 48 hours of free service in India in December, App Code announced

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.”

See also  Google, Microsoft End Their Five-Year Cease-Fire: All You Need to Know

What do you think of the fourth stimulus check? Let us know your thoughts on this topic in the comments section below.

Tags in this story

The fourth round of stimulus package, the US bureaucracy, automatic stabilizers, Bernie Sanders, Christopher Waller, CPI, direct payment, economics, Edward Markey, Elizabeth Warren, the Federal Reserve, the fourth stimulus, Joe Biden, money creation, recurring payments, Ron Wieden, stimulus, stimulus

Picture Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or solicitation of an offer, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. The company or the author shall not bear any direct or indirect responsibility for any damage or loss caused or allegedly caused by using or relying on any content, goods or services mentioned in this article or related thereto.