Millions of families lost income when the U.S. shut down after Covid-19. Congress passed an emergency aid package that includes up to $1,200 in "economic impact payments" for each qualifying adult.
Three rounds of checks, including $600 and $1,400 per person in 2021, have been called "stimulus cheques" by many Americans.
Howard Gleckman, fellow at the Urban-Brookings Tax Policy Center, said the three were huge. IRS and Treasury got faster and more efficient with each stimulus check.
Experts argue the money could have been more targeted, as some wealthy taxpayers untouched by the pandemic received it.
About ninety percent of taxpayers received money regardless of their financial situation.
Reaching low-income non-tax payers was a problem throughout the deployment of stimulus checks and monthly child tax credit payments.
It was really difficult to get money into the hands of the most vulnerable, transient or unbanked people or people with little to no internet access, particularly in rural areas
Some say the stimulus money fueled the U.S.'s record-high inflation. Gleckman says the price spike is due to supply challenges, not demand, and the stimulus money isn't to blame.
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