Report: $1,400 Stimulus Checks Would Help 20 Million Americans Through July


A report from Morning Consult determined that additional $1,400 stimulus checks would keep 20 million Americans afloat.

Morning Consult ran a household survey that helped them estimate that 30 million Americans were unable to pay bills in January. Furthermore, 82 percent of the individuals that could not pay their bills made less than $50,000 a year. This estimate is “underscoring how severely pay losses have been concentrated among low-income adults during this recession,” said Morning Consult.

75 percent of the individuals that were unable to pay their bills in January were short by less than $300. Using this data, Morning Consult estimates that the $1.400 stimulus payment would help 22.6 million individuals meet their obligations through July.

The rest of the individuals that missed their bill payments, around 7.5 million individuals, would still benefit from the payments but it would not make them whole. The $1,400 stimulus check would last these individuals around 3 months.

The stimulus package containing the stimulus payments could materialize in the next few weeks. The goal is to get the plan into effect before unemployment insurance benefits expire on March 14.

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Economics, Finance and Investing