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President Joe Biden’s $2 trillion stimulus plan would provide over $3,000 in benefits to households in the bottom 40% of incomes, according to the Penn Wharton Budget Model.
In a report released on Wednesday, the Penn Wharton Budget Model found that three provisions of Biden’s stimulus plan — extending the child tax credit, direct stimulus payments, and extending the Earned Income Tax Credit — together would cost $595 billion in 2021 and provide direct aid to 99% of households in the bottom 80% of the income distribution.
“For those in the bottom 20 percent of the details ⇒
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