Even though the economy is showing signs of recovery, many still feel the need of giving more stimulus checks to people. The argument they put forward is that people still need some sort of security until the pandemic ends. Many organizations also back this argument, and are in favor of Congress and President Biden approving another round of coronavirus stimulus checks.
Organizations that favor coronavirus stimulus checks
Over the past few months, several lawmakers have come out in support of another stimulus payment. In fact, there are reports that over 80 members of Congress favor sending more stimulus checks, including seven members of the powerful House Ways and Means Committee.
ValueWalk's Raul Panganiban interviews Amit Anand, Co-Founder of INDF, and discusses his approach to investing and why India Financials are very attractive today. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with INDF's Amit Anand
Aside from the lawmakers, public support for at least one more round of stimulus checks is also growing. A Change.org petition, which asks for regular stimulus checks until the pandemic ends, enjoys the backing of more than 2.3 million people.
Many major organizations also support giving stimulus checks to people. One such organization is Humanity Forward. Founded in March 2020, the primary objective of this progressive nonprofit organization is to ensure that government decisions support the health and livelihoods of America's most precarious workers.
Humanity Forward has been advocating for more stimulus checks. “But without cash relief, Americans are forced to calculate the health risk to their family in order to work a job to put food on the table and keep a roof over their heads,” the organization says.
“Lobbied members of Congress to secure $166 Billion in direct cash relief for American families in December 2020,” the organization lists as one of its accomplishments.
More organizations support direct payments
Another major organization that supports more direct payments is the Child Defense Fund. This leading child advocacy organization supports the expansion of the Child Tax Credit (CTC), as well as stimulus checks.
The Child Defense Fund is now calling for the permanent expansion of the Child Tax Credit. The Biden administration has already enhanced the Child Tax Credit temporarily.
As per the organization, government assistance helps to “curb the negative effects poverty has on children, families, and the economy.”
Two more organizations favoring stimulus payments are the Center for Budget and Policy Priorities and the Center for American Progress. Previously, both of these organizations have highlighted the impact that direct payments and expanded unemployment benefits had on reducing the poverty rates in the country last year.
Both organizations support giving more funds to families, as well as making the enhanced Child Tax Credit permanent.
There are also many organizations that don’t support sending out more stimulus checks, and one such organization is the Heritage Foundation. The organization is concerned about the rising debt level, as well as inflation risk facing the economy. Also, the organization believes that there is no need of hefty stimulus packages because health and economic trends are showing positive signs of recovering.