How the US government can help families in need at no extra cost

4th August 2020 (Last Updated August 4th, 2020 07:45)

4 August

The next stimulus package in the US is one of the most debated issues as to what should be included and what should be avoided.

Continuation of the $600 weekly payments, reopening of schools, and ensuring adequate child care facilities is important to ensure economic recovery.

However, journalist Pedro da Costa  shared an article on how emergency financial assistance can be released more quickly to the American population if the government changes a simple rule.

The current method of direct payments as part of the stimulus package took nearly three weeks to reach the people and is not helping the families in need.

Further, the overdraft fees and bank interest rates cut into the money provided by the government.

Incorporating changes to the Expedited Funds Availability Act of 1987, which covers how long a bank can hold money will help address this issue.

The changes can help in releasing funds immediately and does not cost anything for the government.

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