Reuters published 17. Chinese "outbreak checks how spend? Scary americans to pay his debts and taxes," the article said, to include nurses, a tramp, plumbers, teachers, and bar owners, such as more than a dozen people in the United States in an interview with almost everyone says, they are very concerned about the future, they will use stimulus checks to pay for the past year accumulated debt and taxes.
U.S. President Joe Biden on Monday signed the $1.9 trillion new bailout bill into law, and the White House announced Monday that it will begin processing individual bailout payments on March 12. The official payment date is March 17. The White House said individuals earning less than $75,000 a year and couples earning less than $150,000 would be eligible. People with bank account information with the Treasury Department and the IRS will receive $1,400 directly.
Michael Johnson, a construction worker in Washington, D.C., has been hoping for a $1,400 check after President Joe Biden signed a $1.9 trillion epidemic relief bill into law last week, Reuters Chinese reported. Johnson, 45, isn't going to splash out. "I'll try to pay off the mortgage a little bit. The epidemic is not over yet." He said.
Nearly 900 miles away in Wisconsin, Aic Nowicki, who runs a heating and air conditioning business, makes about $150,000 a year and spends about $100,000. One of his clients had defaulted on his bills, and he planned to use the money to pay his own late bills.
In interviews with more than a dozen Americans, including nurses, homeless people, plumbers, teachers and bar owners, nearly all said they were so worried about the future that they would use stimulus checks to pay off debts and taxes they had racked up over the past year, the report said.
Those spending priorities were not what the massive stimulus was intended to accomplish. The stimulus package is designed to encourage people to buy goods and services, help American businesses and create jobs.
Labor economists have found that the difference between people who work from home and those who don't can be seen in their use of government stimulus checks during the year-long epidemic. Consumer spending on goods was strong in January, but largely by people who did not need the three cheques the US Treasury has sent out over the past year. Most people who desperately need the money have already spent it on accommodation and debt service.
White House spokeswoman Jen Psaki was asked Monday how Mr. Biden expects people to spend their stimulus checks. "They will have different uses," Ms. Psaki said. "Some Americans are going to live off of it. It's a form of stimulation. Some people will use it to pay rent, which is also a form of incentive. Every family is different."
Chef Reginald Smith, 36, waited in line at a food distribution outside First Presbyterian Church in Atlanta on Monday. He lost his job in the crisis as many restaurants closed. He lost his home and has been sleeping on a friend's sofa.
"I need a job and hopefully once things get back to normal I will get a job, but first I need to have my own place to live. I'm hoping this (stimulus check) will help me save some money, find a place to live and get back on my feet. But I wish there were more. I don't know if that's enough to get me off the hook."
Others are more optimistic. Steve epitts, general manager of Manuel's Tavern in downtown Atlanta, hoped the stimulus checks would give people more cash to spend. "We hope it lightens the mood a little bit," Pitts said. "To say it's been a tough year is an understatement. We all need a break. We had to cut staff and it hurt. Of course, this is not a cure. We are all waiting for this crisis to end, but maybe this is just a small help."
Thadd Ernstmeyer, who runs a home plumbing company in Reedsburg, Wis., makes about $150,000 a year in gross income, with overhead accounting for about a third of that and taxes about 25 percent. Ernst Meyer says his stimulus checks will be used to pay tax bills. "The stimulus checks are going straight back to the government." He said.