- By Ely Márquez
- (General Dispatch) – The “Covid-19 Relief Act” bill recently approved by Biden could generate an incentive for people to discard finding a job.
- With just a few simple calculations, it can be determined that parents who do not have a job and have at least three children in their family structure will receive approximately $92,000.
- The articulation of tax credits for each child, coupled with the unemployment bonus and stimulus payments, are the foundation on which this bill is based.
- However, the bill presented by the current administration of President Joe Biden is characterized by the fact that initially the $10,200 per unemployment benefit will not be taxed.
- The aforementioned plan is valid for 26 weeks where households will be receiving unemployment benefits, adding 20 more weeks in case the unemployment problem persists, i.e. the plan is not for the whole year.
- Meanwhile, the proportionality of the aid will be stipulated at $300 per week, without adding the regular state benefits that are also contemplated in said legislation, which means that the families could be receiving about $74,776.
- Undoubtedly, the economic stimulus represents a benefit for U.S. families, even higher than the $92,000 that in previous years was below this figure.
- However, economists indicate that this economic distribution may mean a considerable increase in the nation’s public spending, if tax resources are not obtained by not paying taxes. The negative impact on the economy will be notorious.
Adittional Information:
BBC: Covid stimulus: Biden signs $1.9tn relief bill into law
