As we wait for a second stimulus check, the case for ongoing payments grows more convincing

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New research indicates that ongoing payments, such as unemployment insurance or universal income, may have more of the desired stimulus effect. How are people spending their stimulus checks? An ongoing study from the Kellogg School of Management at Northwestern University finds that one factor predicts how people spend their stimulus checks: their bank account balance. Those with under $500 in their bank accounts spend nearly half of their stimulus check within 10 days, while those with more than $3,000 in their bank accounts do nothing. (Well, one assumes they smile, at least briefly?) Read Full Story

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Second stimulus checks update: Here’s the latest as Democrats push for more payments

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A second stimulus check from the IRS would be nice, but don’t count on it just yet. The bill faces an uphill battle in a Republican-led Congress. Democrats in the House of Representatives put forth a new stimulus package proposal yesterday, and—good news!—it includes a second round of stimulus checks for Americans hurt by the ongoing global pandemic. For example, the 33 million people currently jobless due to COVID-19. Read Full Story

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Stimulus update: What the new Senate vote means for extra unemployment and 2nd checks

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The skinny bill failed as it was expected to. Election Day is less than two weeks away. Is there any hope for a COVID stimulus package before November 3? On Wednesday, the Senate voted on a new “skinny” stimulus package for coronavirus relief, which is not to be confused with last month’s failed “skinny” stimulus bill. This one included more weekly unemployment benefits, as well as $100 billion for schools. Here’s the latest update on what’s happening with the long-stalled coronavirus relief efforts on Capitol Hill: Read Full Story

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Stimulus update: Something is finally happening—What the new plan means for second checks and unemployment

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Although an agreement has yet to be reached, the nine-month standoff in Congress over a stimulus package for coronavirus relief has at least thawed. Huge progress! In the last 48-hours, the nine-month standoff in Congress over a stimulus package for coronavirus relief has thawed, with more lawmakers now getting behind a new bipartisan proposal for a $900 billion bill, including leadership on both sides. Here’s the latest: Read Full Story

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