Today, Senators Ed Markey (D-MA), Kamala Harris (D-CA) and Bernie Sanders (D-VT) teamed up to propose the Monthly Economic Crisis Support Act, a measure that seeks to issue 90% of the public direct $2,000 payments each month during the Coronavirus pandemic.
gai20332-4These payments would be made up to three months AFTER the official end of our public health crisis, ensuring affected families would receive support in the an uncertain transition period.
Additionally, families with eligible dependents would receive an additional amount–$2,000 per child up to three children.
In terms of who would be eligible for these payments, the rules would essentially mimic those of the CARES Act, with the exception of increased income limits. Under the Monthly Economic Crisis Support Act, Americans making $100,000 per year or less would be entitled to the full payment amounts.
Given how closely eligibility is modeled after the CARES Act, it is likely those eligible will include seniors and retirees.
In April, a similar idea was proposed in the House by Representatives Ro Khanna (D-CA) and Tim Ryan (D-OH). Their bill is called The Emergency Money for the People Act.
Though this idea seems to be gaining support in the legislative branches, they will likely meet challenges from deficit hawks who will balk at the price tag. The President, himself, has said he does not support future stimulus in the form of direct payments, but rather in a payroll tax cut for working Americans.
