Janet Yellen: Americans Earning $60,000 Should Get Stimulus Checks

While talking to a news channel, Yellen did not reveal the details of the coronavirus stimulus package but said that the struggling middle class needs help.

Janet Yellen: Americans Earning $60,000 Should Get Stimulus Checks
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US Treasury Secretary Janet Yellen said on Sunday that the Americans earning less than $60,000 a year should receive the federal stimulus checks as part of the Biden administration’s $1.9 trillion relief package. While talking to a news channel, Yellen did not reveal the details of the coronavirus stimulus package but said that the struggling middle class needs help.

Meanwhile, the White House administration stated that it is open to talks on who should receive the stimulus checks and has also declined to specify where it thinks the income cut off should be. Without offering any further details on the Biden administration’s decision, Yellen said that the President is willing to work with the congressional leaders to determine who receives the checks.

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She further added that if the US Congress approves the proposed coronavirus package, the country would get back to full employment by 2022. Yellen added that otherwise, the employment is likely to linger for years.  On the other hand, Republican lawmakers have opposed the relief package, arguing that any further spending would increase the national debt following the $4 trillion in Congress aid in 2020.

Roger Wicker, a Republican senator said that his party would be willing to support a $600-$700 billion relief package. Even though Biden had said that he would like to gain bipartisan support for his bill, the Republicans are falling short of the mark on what needs to be done to put the country back on track.

The House of Representatives and the Senate approved a budget plan last week that would allow the upper chamber to pass the bill with a simple majority. Currently, the Senate is split 50-50 between the Republicans and Democrats, with Kamala Harris representing the tie-breaking vote.

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