California Trial of Universal Basic Income Inspires More Cities to Follow Suit
A mother and son walk through one of the neighborhoods of Stockton where participants in the city s universal basic income program live in Stockton, California, on February 7, 2020.
Nick Otto / AFP via Getty Images
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It’s probably safe to say that a few years ago, most Americans weren’t familiar with the term universal basic income, commonly abbreviated as UBI. But more recently, as the idea has grown in popularity among the tech community, and with Andrew Yang’s presidential run putting it into the political spotlight, the idea of everybody in the country receiving a monthly check just for existing has begun to capture the public’s imagination and has become a more normalized part of the political lexicon.
Call the Bank Now: $1,800,000,000 in Stimulus Checks Just Went Out
The IRS Thursday issued its weekly report about the dispersal of the stimulus checks from the American Rescue Plan. The latest batch, which is the ninth since the payments began in early March, consisted of 960,000 payments, totaling over $1.8 billion.
The IRS Thursday issued its weekly report about the dispersal of the stimulus checks from the American Rescue Plan. The latest batch, which is the ninth since the payments began in early March, consisted of 960,000 payments, totaling over $1.8 billion.
That amount is lower than the last few batches, indicating that the program is getting closer to wrapping up. The earliest rounds consisted of as many as 90, 37, and 25 million checks, although in recent weeks that number has been in the low millions.
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While few people thought another round of stimulus checks could be possible- the White House says its leaving the prospect of a fourth direct payment to U.S. residents up to Congress.
Some Americans have wondered: Could there be a fourth round of COVID relief stimulus checks before the pandemic officially ends?
The answer is ‘maybe’ for now, but it’s unclear if the political will is there. So far, checks for $1,200, $600, and $1,400 have gone out to Americans. While the IRS continues to navigate releasing those funds- with some waiting for the second or third rounds of stimulus payments- others in need have spent through it.
Could a Fourth Round of Stimulus Checks Be on the Way?
That ultimately will depend on Congress.
When asked about the possibility of another round of stimulus checks last week, White House press secretary Jen Psaki responding by saying, We ll see what members of Congress propose, adding that the payments were not free.
The latest round of stimulus checks as part of the $1.9 trillion American Rescue Plan has provided more than $385 billion in $1,400 payments to eligible recipients. Relief payments of $1,200 and $600 were part of the first two stimulus packages.
On Monday, President Joe Biden announced that his administration will be sending relief checks to thousands of restaurants. However, he did not lend any insight as to how likely a fourth stimulus check might be.
But what if the delivery of aid didn’t require new legislation?
According to Newsweek, the Economic Security Project has recently briefed staffers from the Senate Finance Committee on a concept called “automatic stabilizers,” which would “tie the issuance of expanded unemployment payments and stimulus checks to the state of the economy,” and make payments automatic when there’s a crisis. The same group has also briefed the White House on the same idea. The White House has endorsed automatic stabilizers when it comes to unemployment insurance.
The idea is to quickly head off the possibility of future recessions and make aid automatic while insulating the process from political considerations.