Federal Stimulus Package

Jay Campbell is a former C100 member now retired who offers this view on the stimulus package under consideration in Congress. Jay’s point is on target and if you agree, a letter from you to your congressman would help. Thanks very much

Dear Michael:

The reports of the Republican Plan to stimulate the economy includes certain direct cash payments to all citizens below a certain taxable income level. Such a spend needs to be more targeted since many in those brackets may not need such assistance if not unemployed or in need of critical financial assistance.

In my view, a better solution and/or  “spend”  by the Federal Government (at this time)  would be to use the states’ already established Unemployment Insurance systems, and the SNAP (Food Stamp) distribution network as the funding mechanism for the federal dollars to assist those truly impacted by being unemployed, fired, terminated, laid off, furloughed, or whatever,  due to the business decline that is currently in process. Said benefits could be extended as needed, and funded over time preserving cash as the needs are requested and funds needed and used.

Those people can easily prove their need, for financial assistance ( unemployment Insurance), and their need for Food Stamps ( SNAP ) benefits.

The funding directly to the states would use a very effective system to get the funds to the people that truly need and can acknowledge/prove their need.

Those “newly” qualified for such benefits would be targeted and easily identifiable from those already receiving  such benefits from the systems/departments  mentioned above

Helping businesses with loans,  federally-guaranteed, and available for later forgiveness,  are also being proposed as noted in the press bulletins, which would be very helpful.

I think the current plan to just send money to families that make less than a certain amount of taxable income is not efficient and could actually benefit some who are NOT even impacted adversely financially….

A much more targeted approach would best serve those most in need very quickly…..

If you agree, then I suggest you express your views directly with our Senators and Congressmen…..

Thanks, Jay

J. H. Campbell, Jr.
Client Consulting Services, LLC

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