A recent HHS report has revealed that stimulus checks have served their purpose and have proved a lifesaver for millions of U.S. citizens who would otherwise have been pushed into abject poverty. This fact was revealed in a recently released U.S. Department of Health and Human Services study, which assessed the impact of stimulus checks on poverty during the COVID-19 pandemic reports the-ascent.
The Data Reveals Millions Were Kept Out Of Poverty
In 2021 at the peak of the COVID-19 pandemic, millions of U.S. citizens received sizeable financial assistance from the federal government. Lawmakers fast-tracked the stimulus program after witnessing the devastating effects of the pandemic on the vulnerable sections of American society.
As a result, the U.S. Department of Health and Human Services released in February 2022 a comprehensive study on the impact of financial aid on poverty levels. The data revealed that millions of Americans were saved from abject poverty because of these stimulus checks. In addition, the direct payments made to their bank accounts had a significant impact on households with children.
Two stimulus aids were enough to keep more than 10.8 million U.S. households above the poverty level. The two efforts have won the gratitude of millions of U.S. citizens, and it will be justified to replicate these efforts to alleviate the sufferings of the most vulnerable society, which has borne the brunt of the COVID-19 pandemic.
Dissecting the February HHS report reveals that 7.9 million people were kept out of poverty due to the stimulus package under the American Rescue Plan Act. Additionally, the advanced Child Tax Credit helped keep another 2.9 million people out of poverty.
A Strong Incentive For Lawmakers To Consider 2022 Stimulus Checks
The study only included the effects of two stimulus campaigns, and it is understandable how beneficial other stimulus and aid programs will be reports the-ascent. Other aid programs include expanded unemployment compensation, which also helped raise millions’ incomes.
Lawmakers must consider continuing the expanded Child Tax Credit program. There is no talk about further stimulus aid. However, with the surging inflation and rising fuel prices compounded by the war in Ukraine, it is possible lawmakers will someday decide more relief is needed.