Home » Politics » Biden's $1.9T stimulus would give almost $3,600 to poorest Americans, analysis finds
Biden's $1.9T stimulus would give almost $3,600 to poorest Americans, analysis finds
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An analysis of the details of President Biden's $1.9 trillion coronavirus stimulus plan found that it would give a nearly $3,600 financial benefit to the poorest quintile of Americans, and give similar benefits to nearly all income brackets.
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The Institute on Taxation and Economic Policy (ITEP), a left-leaning nonpartisan think tank, analyzed the cash payment and tax proposals from the House Ways and Means Committee as part of Biden's stimulus proposal last week.
For the poorest 20% of Americans making less than $21,300, the ITEP analysis found they would, on average, pocket $3,590 more per year. This money comes from the direct payment stimulus checks and the expansions of the Child Tax Credit and the Earned Income Tax Credit.