General World News

The poorest 40% of Americans could receive benefits of over $3,000 under Biden’s stimulus plan, new report finds

Joe biden

Summary List Placement

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 ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com