The US economy is still in a recovery period after the recession of 2020 and 2021. A decade later, many people are still trying to make up for lost time and rebuild their savings.
The purpose behind ARRA was to provide economic stimulus through government spending or tax cuts in order to create jobs, increase consumption, or aid distressed areas by providing public works projects.
You might be surprised to learn that stimulus payments are not distributed evenly across the board. In fact, lower-income households are receiving larger payments than other households.
Upper-income households will receive smaller stimulus checks than those at the bottom of the income bracket, and some may even get no payment at all.
Stimulus Check: Was Inflation Triggered By It?
Stimulus checks can benefit local businesses.
As you may know, businesses that are located close to where stimulus checks are being distributed will also benefit from the influx of cash that comes with these distributions.
This is because people who receive their Stimulus Payment will then have more money to spend on local goods and services. This means that a business owner who runs a restaurant near where thousands of stimulus checks are being given out could see an increase in sales as more people have extra money to spend at his or her establishment or nearby restaurants.
Another way in which local businesses can benefit from this influx of cash is by hiring additional employees—for example, if a business hires one new employee for every thousand dollars in Stimuli Payments received, then each employee hired would represent about $1 million worth of economic activity created by the federal government’s actions!
