- A new coronavirus relief bill is in the works and it could mean a big payday for some families.
- New $1,400 stimulus checks plus a more generous child tax credit could give a family of four earning under $150,000 more than $14,000.
- The initiatives show that the country is opening up to the idea of universal basic income, one political analyst says. The question is: How long will it last?
As Congress works to finalize its latest coronavirus relief bill, some American families are poised to receive a financial windfall.
Between new $1,400 stimulus checks and an enhanced child tax credit, that could add up to more than $14,000 for some families.
“All of the focus has been on the $1,400 when, in reality, for a family of four, they should be focused on the $14,000,” said Ed Mills, Washington policy analyst at Raymond James. Mills wrote about the potential income boost this week.
The new stimulus checks would provide $1,400 per person, including child and adult dependents.