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The U.S. economy and millions of people struggling because of the pandemic are about to get a US$1.9 trillion jolt of stimulating relief. On March 10, the House of Representatives approved a version of President Joe Biden’s coronavirus package that barely squeezed through the Senate. Both votes were almost entirely along party lines. Biden signed the bill into law on March 11. The legislation includes $1,400 relief checks for most Americans, an extension of the $300 supplement for the unemployed, a more generous child tax credit and much more. We turned to our archive to provide some context on this historic legislation. 1. About those $1,400 checks Among the signature – and most popular – features of the package are the $1,400 payments most Americans will soon receive. There was some w...

Congress is on the verge of spending US$1.9 trillion to provide additional coronavirus relief to Americans, including $1,400 direct payments and extended unemployment benefits. Opinion polls show the bill has strong support, even among Republican voters. CC BY-NC-ND But what if you were told that this spending level represents about $15,000 for every household in the U.S.? Would that make you less likely to support it even if you like its provisions? We are accounting professors who research how the presentation of financial information affects individual judgments. Our recent work suggests it would lessen most people’s support for the spending bill. Making sense of big numbers In the Spring 2020 issue of Behavioral Research in Accounting, we published a study investigating whether indiv...

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4 Essential Reads: A Jolt Of Economic Relief – The US Delivers $1.9 Trillion

It’s All A Matter Of Perspective – Support For Biden’s $1.9 Trillion Coronavirus Relief Package May Not Be As Broad As It Seems