JEFFERSON CITY— Missouri policy experts talked Thursday about how COVID-19 relief money should be reallocated to struggling Missourians to boost local economies.
A bill under consideration in the Missouri General Assembly would put federal relief funds into the state's unemployment trust fund. This would happen at the same time as decreased unemployment tax assessments on businesses.
Vice President of External Affairs Traci Gleason at the policy organization Missouri Budget Project, said a stimulus payment puts the money to better use.
"These funds weren't intended to allow there to actually just be lower business assessments," Gleason states. "We do get a better bang for our buck in terms of local economic activity, as well as helping those folks who are having trouble putting food on their tables by using it for stimulus."
Current proposals for the COVID relief direct funds to the Department of Public Safety, along with paying for COVID mitigation and other costs related to the pandemic.
Gleason recommends that lawmakers provide a $1,000 stimulus payment to those who have previously used unemployment benefits, sending the remainder of the relief fund to the unemployment trust fund.
Gleason points to potential concerns as well as pandemic benefits that could run out.
"As of the end of September, more than 80,000 Missourians had exhausted their regular unemployment benefits," Gleason said. She also recognized the potential threat COVID has for the future. "And as we see COVID rates increasing, we expect that unemployment levels could surge as well," Gleason said.
Gleason went on to discuss how many of those who have returned to work are earning less. She also asserts that a stimulus payment to families would benefit local business.
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November 13, 2020 at 10:19AM
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Missouri Budget Project calls for stimulus payments to Missourians - KOMU 8
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