US Economic Bailout Plan Could Face the Challenge of Financing Measures
OREANDA-NEWS The US authorities are planning to allocate 1.9 trillion dollars to combat the consequences of the coronavirus pandemic. However, with the payments to be made to the Americans as part of the plan to rescue the country's economy, problems may arise. This information is reported by the "Reuters" agency.
Once the bill is signed by US President Joe Biden, the US government will be able to start sending checks. About 160 million households will receive assistance in the amount of 1.4 thousand dollars.
The plan also provides for payments of 3.6 thousand dollars for each child under six years old and three thousand - for other minors. To receive this money, parents must earn less than 75,000 dollars a year. In addition, children are required to live with them for at least six months.
The verification of the last item can be delayed, people will face delays in receiving assistance, experts say. The second problem concerns the electronic method of calculating payments. Money in this form should go to those who have too little income to file a tax return, and the homeless. Lack of internet access for homeless and low-income people can also lead to delays.
The US Senate on March 6 approved a package of measures to stimulate the American economy. Some points that caused the most controversy among senators were removed from the draft. Thus, the provision was excluded to increase the minimum wage from 7.25 to 15 dollars per hour by 2025.
According to the package of proposed measures, about 415 billion dollars will go to support measures to combat the coronavirus, about a trillion dollars in direct payments to households and about 440 billion dollars in payments to small businesses. The document must once again go through a vote in the lower house, after which, if it remains in the same form, it will go to Biden for signature.