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However, stimulus checks could have numerous potential benefits for the economy.
That transition resulted in the poverty rate declining from 11.8% to 9.1%.
Another round of stimulus checks could have a similar effect.
By bringing people out of poverty, those individuals become less reliant on federal assistance programs and other supports.
Stimulus checks could also potentially help individuals avoid foreclosure or bankruptcy.
Reduce Debt
Stimulus checks can also help individuals to pay off debts.
Stimulus checks might lead to a bigger boost in consumer spending because ofour current strong economy.
Given todays more stable economy, more households might choose to spend the checks.
Support Businesses
That increased spending can lead togreater business support.
By encouraging investment, stimulus funds may help individuals to increase their overall net worth.
One of their most valuable benefits may be helping to prevent inflation.
From boosting businesses to helping individuals save and pay off debt, these checks have many positive effects.
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