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A Family of 4 Could Get Up to $12,800 in Stimulus Payments This Year

President Biden's plan provides a lot of help for those in need. ....

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Would You Get a "Targeted" Stimulus Check?

Would You Get a Targeted Stimulus Check?
Kiplinger
2/1/2021
© Provided by Kiplinger
The latest battle over the next round of stimulus checks is whether they should be targeted to people who need them the most. President Biden s $1.9 trillion stimulus package includes a third round of $1,400 stimulus checks ($2,800 for married couples filing a joint return), but his plan doesn t call for changes to the phase-out rules that deny payments to wealthier Americans. That s a problem for many Republican lawmakers…and for a few key Democrats as well.
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Although some details are missing, Biden s stimulus check plan is similar to the CASH Act proposal that was passed by the Democrat-controlled House in December but blocked in the Senate by Republicans who control that chamber at the time (Democrats now control the Senate). The primary reason cited by Republicans for blocking the CASH Act was that it would have sent thousands of dollars to pe ....

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Republican Senators Propose "Targeted" $1,000 Stimulus Check Plan

Republican Senators Propose Targeted $1,000 Stimulus Check Plan
Kiplinger
2/1/2021
© Provided by Kiplinger
In an effort to reach a bipartisan COVID-relief plan, 10 moderate Republican senators are offering a more targeted alternative to President Biden s $1.9 trillion stimulus plan. An important piece of the Republicans counteroffer is a third-round of stimulus checks at $1,000 per eligible person ($2,000 for married couples). This is likely to fall short of the president s expectations, since his plan calls for $1,400 payments and many Democratic lawmakers want $2,000 stimulus checks. However, Biden agreed to meet with the Republican senators on Monday to discuss their entire stimulus plan, which at $618 billion is less than a third as costly as the president s plan. ....

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Shoring Up Social Security

Shoring Up Social Security
© Provided by Kiplinger
For years, policymakers and future beneficiaries have been wringing their hands over the prospects for Social Security. And make no mistake: The program is headed for trouble.
According to projections that the Social Security Board of Trustees released last April, starting in 2021 the program’s annual costs will exceed its income from employee and employer payroll taxes and interest earnings. Once the program turns that corner, Social Security will begin drawing down assets in its trust funds to continue providing full benefits. Largely driving the shortfall is a decreased birth rate since the baby boom generation, creating a higher ratio of retirees to workers paying into the program. ....

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