Op-ed: Increase the pandemic stimulus payments

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Op-ed: Increase the pandemic stimulus payments investinyou (In partnership with acorns.)

To his critics, President Trump has an annoying habit of being right at times. A case in point is the long-awaited pandemic relief bill.

We were all grateful when he signed it on Sunday. It had been delayed for months by political gamesmanship and jockeying. Yet, his criticism of the relatively small cash payments included in this bill — $600 per adult and per dependent child for individuals making up to $75,000 a year — was spot on. Most middle- and low-income Americans have, in one way or another, suffered financially from this pandemic, and their suffering has deepened over the past months as Congress dithered. Most will continue to suffer from the economic distress caused by Covid-19, which will endure for much of 2021.

Those $600 payments — only half the amount that Congress approved in the CARES Act last March — will soon be exhausted.to increase them to $2,000. If not, the Biden administration should make this its first order of business next year. The idea of unconditional cash assistance has been around for some time. With this pandemic, it is finally getting its due. Experiments dating back to the Nixon administration show that giving no-strings cash to low-income families reduces poverty rates, benefits family's health and improves children's' test scores.

 

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