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Biden will ask Congress for $1,400 stimulus checks — economists advise caution before spending

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As the Internal Revenue Service starts cutting a second round of direct relief checks, the waiting may be the hardest part for people who just want their cash — or badly need it to cover basic living costs.

On Thursday, President-elect Biden said he will call for $1,400 stimulus checks and more vaccine funds as part of a $1.9-trillion COVID-19 relief plan. One note of caution: Analysts say that after the proposal is debated in Congress, the final COVID-19 rescue package is unlikely to be as generous as currently proposed.

The waiting is also a critical part, according to new research from Boston University and Brown University economists who looked at what…



Source marketwatch.com

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