The House of Representatives has passed a measure to increase incentive checks for certain people below the income level to $2,000. The bill is now sent to the Senate and faces an uncertain future.
Trump supports the idea of a bigger check, but some Republicans believe that the increase will be modest because it will increase the overall price of the stimulus bill.
Republican Rep. Kevin Brady (Kevin Brady) from Texas put forward his reasons against higher payments in a post on Twitter. He believes that these inspections will be “powerless” to help local businesses and get people back to work.
He said: “We can do better.”
Not everyone agrees with Brady.
For example, Jerome Powell, chairman of the Federal Reserve (Fed), has repeatedly commented on the need to combine central bank stimulus plans with spending ordered by Congress.
He explained in November that the Fed is using its loan program “unprecedented.”
“Many borrowers benefit from it [lending] Plan, and the overall economy. But for many others, obtaining loans that may be difficult to repay may not be the answer,” Powell said at a press conference.
“Direct financial support may be required. Elected officials have the power to collect taxes and expenditures and make decisions about our collective resources as a society that should guide us,” he added. “The fiscal policy measures that have been adopted so far have had a significant impact on households, businesses and communities across the country.”
Stimulus facts: how do we know how to spend stimulus checks? The U.S. Census Bureau conducted a survey in June that provided some answers on how to use the first round of payments.
Among households that received stimulus checks from the federal government, most adults said they had used or planned to spend most of it on household expenses. This means that money will return to the economy.
At the same time, 15.7% of people use stimulus checks to pay off debts, and 14.1% intend to use most of their savings to pay off debts.
Among those who used checks, 80% reported using the money for food, while 77.9% used it for rent mortgages and/or utilities, including natural gas, electricity and the Internet. About one in five people reported spending money on clothes.
According to data from the Census Bureau, 8.1% of respondents said they will or will spend stimulus measures on household items such as televisions, electronics, furniture and household appliances or leisure products such as fitness equipment, toys and games.
The result: Economists see direct payments as a way to help protect the fragile recovery and prevent people from falling into poverty while the pandemic continues to spread in the United States.
The latest news about the virus is terrible. The number of patients hospitalized with Covid-19 across the country is the highest ever, and health experts warn that this proportion may require nurses, respirators and care.
The Boeing 737 Max is back
On Tuesday, the Boeing 737 Max aircraft will carry American passengers for the first time in nearly two years, when Americans will use the aircraft on the round-trip route from Miami to New York.
This will be a notable pair of 737 Max flights, which killed 346 people in two crashes before being grounded from March 2019 to November 2020. The flight took place after the Federal Aviation Administration approved Boeing’s changes to the jet aircraft last month.
Not everyone is on the plane: A poll conducted by Reuters/Ipsos on Monday showed that 57% of Americans surveyed said they were unlikely to fly when they were told about the history of the plane Boeing 737 Max. About 37% said that once it has been in the air for six months or more, they are likely to fly.
American Airlines will not disclose the number of seats sold on Tuesday’s flight from Miami to LaGuardia Airport in New York at 10:32 am EST and 2:30 pm on the return trip. But as of late Monday night, the airline’s website showed that only one main cabin ticket was still available for the afternoon return.
The aviation authorities of most other countries have not yet approved the use of the 737 Max. But Brazilian airline GOL became the first airline to provide passenger flights earlier this month, and Aeromexico resumed flights between Mexico City and Cancun last week.
The trouble with the 737 Max makes Boeing an unforgettable year in 2020. Since January 1, the company’s stock price has fallen by about a third.
Tesla may come to India
We have heard about this issue before, but 2021 may be the year Tesla will enter the world’s fourth largest car market.
Indian Transport Minister Nitin Gadkari told CNN that Elon Musk’s electric car company will start selling cars there next year. Gadkari added that Tesla will subsequently manufacture in the country.
Tesla did not immediately respond to a request for comment. But Musk said on Twitter over the weekend that sales will begin in 2021.
Background: The CEO stated in 2017 that Tesla plans to sell cars in the country as early as that summer. But the delay may be the right time.
With new safety and emission regulations pushing up prices, car sales in India dropped sharply in 2019, and the troubles of Indian consumer finance providers also hit loans.
The S&P Case-Shiller House Price Index will be released at 9:00 am Eastern Time.
Tomorrow is coming: the Energy Information Administration (Energy Information Administration) releases a crude oil inventory report.