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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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