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We were glad to join @aspeninst today for a convening of experts & practitioners concerned about payments delivery for the CARES Act. Some takeaways on the bill’s cash transfer program—a thread:
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A great resource—this chart from @newamerica& #39;s @taradmcguiness & @zuckergabriel on the segments of Americans w/ varied access to the CARES Act payments:
~ 92M may wait months for the checks
~ 12M must file despite being in the existing gov’t benefit system
~ 45M+ ineligible
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~ 92M may wait months for the checks
~ 12M must file despite being in the existing gov’t benefit system
~ 45M+ ineligible
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The chart is part of this @NewAmerica article on important gaps in the $300 billion worth of disbursements:
@taradmcguiness @zuckergabriel
3/ https://www.newamerica.org/public-interest-technology/reports/relief-payments-poor-delivery-may-prevent-tens-of-millions-of-americans-from-accessing/">https://www.newamerica.org/public-in...
@taradmcguiness @zuckergabriel
3/ https://www.newamerica.org/public-interest-technology/reports/relief-payments-poor-delivery-may-prevent-tens-of-millions-of-americans-from-accessing/">https://www.newamerica.org/public-in...
See here for @aarondklein’s relevant article about the last mile for CARES Act implementation. Some key hurdles for the stimulus check disbursements:
1. Realtime payment
2. Universal accounts
3. Identification to link people reliably to accounts
4/ https://www.brookings.edu/opinions/70-million-people-cant-afford-to-wait-months-for-their-stimulus-to-come-in-a-paper-check/">https://www.brookings.edu/opinions/...
1. Realtime payment
2. Universal accounts
3. Identification to link people reliably to accounts
4/ https://www.brookings.edu/opinions/70-million-people-cant-afford-to-wait-months-for-their-stimulus-to-come-in-a-paper-check/">https://www.brookings.edu/opinions/...
Among some solutions @aarondklein of @brookingsinst gives:
Treasury should switch from ACH system to having the Federal Reserve use its authority to clear all payments < $5k to be available immediately.
5/ https://www.brookings.edu/opinions/70-million-people-cant-afford-to-wait-months-for-their-stimulus-to-come-in-a-paper-check/">https://www.brookings.edu/opinions/...
Treasury should switch from ACH system to having the Federal Reserve use its authority to clear all payments < $5k to be available immediately.
5/ https://www.brookings.edu/opinions/70-million-people-cant-afford-to-wait-months-for-their-stimulus-to-come-in-a-paper-check/">https://www.brookings.edu/opinions/...
Grassroots groups are raising other major concerns:
- The digital divide with remote filing is enormous
- Challenges assisting w/ paperwork digitally
- Protecting from ID theft more urgent amidst confusion & overloaded intake systems...
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- The digital divide with remote filing is enormous
- Challenges assisting w/ paperwork digitally
- Protecting from ID theft more urgent amidst confusion & overloaded intake systems...
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Further grassroots concerns:
- Fear of garnishment & debt collectors intercepting payments
- Folks w/ disabilities are often among non-filers, needing extra support
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- Fear of garnishment & debt collectors intercepting payments
- Folks w/ disabilities are often among non-filers, needing extra support
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Reps @ChrisVanHollen, @SenWarren, @RepPressley, & @RepChuyGarcia previously proposed the Payments Modernization Act that would solve for the need for immediate availability of funds from treasury and other sources.
8/ https://www.vanhollen.senate.gov/news/press-releases/van-hollen-warren-pressley-garca-introduce-legislation-to-ensure-the-fed-will-act-on-faster-payments">https://www.vanhollen.senate.gov/news/pres...
8/ https://www.vanhollen.senate.gov/news/press-releases/van-hollen-warren-pressley-garca-introduce-legislation-to-ensure-the-fed-will-act-on-faster-payments">https://www.vanhollen.senate.gov/news/pres...
Multiple states can consider using existing SNAP (food stamp) benefit cards to disburse additional assistance. Michigan is one state that announced it will use this strategy to provide more assistance to vulnerable families with kids.
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https://www.michigan.gov/coronavirus/0,9753,7-406-98158-523398--,00.html">https://www.michigan.gov/coronavir...
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https://www.michigan.gov/coronavirus/0,9753,7-406-98158-523398--,00.html">https://www.michigan.gov/coronavir...
For a look at what other proposals had put forth, see our key comparisons factsheet—relevant again given talks of a fourth stimulus bill.
/10 https://www.jainfamilyinstitute.org/media/research/comparing-cash-transfer-legislation/">https://www.jainfamilyinstitute.org/media/res...
/10 https://www.jainfamilyinstitute.org/media/research/comparing-cash-transfer-legislation/">https://www.jainfamilyinstitute.org/media/res...
