Americans' incomes could suffer for months due to the coronavirus crisis, prompting questions of whether or not there will be additional stimulus payments. Here's what Congress could consider next to get more money into the hands of those who need it.
This week, Speaker of the House Nancy Pelosi said guaranteed income could be something to consider to shore up Americans' financial security.Here's how both ideas could work, and the challenges they would face in reaching the individuals who are suffering the most.When it comes to coronavirus stimulus checks, many say $1,200 isn't enough.
Millions of those one-time payments are still on their way to Americans. The coronavirus shutdown, however, could have economic effects for months."Others have suggested a minimum income, a guaranteed income for people," Speaker of the House Nancy Pelosi said in anHowever, proposals to get more money to people share one big dilemma: How to give a financial boost to those who really need it.
"A one-time $1,200 check isn't going to cut it," Rep. Khanna said in a statement. "Americans need sustained cash infusions for the duration of this crisis in order to come out on the other side alive, healthy and ready to get back to work." The plan comes at a time when the government is already injecting massive amounts of money into the economy.
Successfully getting more money out to Americans could be tricky, if the experience from the recent stimulus checks is any indication, said Len Burman, institute fellow at the Urban Institute and professor at Syracuse University.
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