Stimulus checks are great, but a new idea would give everyone $10,000 in credit card debt relief

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The toll from the coronavirus pandemic is, sadly, continuing to get worse in the US — with another 2.4 million Americans having filed for unemployment and more than 1.5 million cases of the virus now having been confirmed in the US. Not to mention coronavirus stimulus proposals continuing to circulate.
The infection totals are according to the latest numbers from Johns Hopkins University.
Two professors have come up with a new coronavirus stimulus idea that doesn’t involve stimulus checks. The focus, instead, is on credit card debt.
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Since Congress already passed one $2.2 trillion relief bill in March that resulted in direct coronavirus stimulus payments to most Americans, there doesn’t seem as much bipartisan support at the moment for another massive legislative package that includes funding for a second wave of stimulus checks. The Democrat-controlled House has already passed just such a package, but leaders in the Republican-controlled Senate have pumped the brakes on passing a similar measure of their own.

But with tens of millions of Americans newly jobless, including another 2.4 million Americans who filed for unemployment last week, that only underscores the fact that the coronavirus pandemic is continuing to exert a terrible toll on the US. It’s why the already-passed stimulus bill included an extra $600 per week in unemployment benefits for the newly-jobless, and it’s also why — even though coronavirus cases are continuing to multiply in many states around the country — all 50 states have now reopened to one degree or another. But are there still coronavirus stimulus ideas worth exploring, even outside of direct cash payments that are apparently politically problematic at the moment?

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Stimulus checks are great, but a new idea would give everyone $10,000 in credit card debt relief originally appeared on BGR.com on Thu, 21 May 2020 at 12:46:05 EDT. Please see our terms for use of feeds.