Stimulus Checks for Missourian Familes
Stimulus checks are sent to fund state unemployment claims. But now, the Missouri Budget Project is calling on Governor Mike Person. The non-profit wants Person to use the leftover federal Corona Virus relief dollars on another round of stimulus checks to Missouri families instead.
Stimulus Checks: Parson’s Administration has Other Plans for the Money
This past week, Parson’s administration said it expected to use federal Coronavirus Aid, Relief, and Economic Security Act money to refill the unemployment fund. This administration believes the fund flush triggers tax cuts for businesses.
Unemployed People Step Aside, Missourian Families Help Really Help the Economy More
It’s unfortunate people that don’t work through no fault of their own, sock away their money after they have exhausted their state unemployment benefits. The unemployed rather save their money for a “rainy day.” That’s a problem according to the Missouri Budget Project, a left-leaning think thank. Moreover, those payments to Missourians would best serve the economy.
It’s a Simple Fact: Spending Stimulates the Economy – Period
“A stimulus payment for families would not only assure that remaining federal COVID funding would flow to Missouri families who are most in need. Their spending would help stimulate local economies across the state. Amy Blouin, President, and CEO of Missouri Budget Project, said this in a statement.
Unemployment Trust Fund Payouts
More than half the savings of Missouri’s unemployment trust fund has paid out over months of unprecedented jobless claims. Therefore, sending the balance to $440 million at the start of last month. This is from over $1 billion at the beginning of the year.
$400 million of the state’s $1.3 billion remains CARES Act Cash put in an unemployment insurance trust fund. Missouri Budget Director Dan Haug said that this week.
Governor Mike Person said he wants to take unused money and plug it into the state’s unemployment insurance fund. That fund is gone. This is because of the economic downturn that took place began in March when the pandemic began.