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Analysis says next round of stimulus checks should be targeted for low-income families

WASHINGTON D.C. — There is a push to get more stimulus money to families most financially in need.

President Biden is pushing for $1,400 stimulus checks, but questions remain about who should be eligible for the money.

READ: Latest COVID-19 relief bill increases SNAP benefits for those struggling during pandemic

A new analysis from the research group Opportunity Insights said: “Households earning more than $78,000 will spend only $105 of the $1400 stimulus check they receive - implying that $200 billion of additional government expenditure will lead to only $15 billion of additional spending. Targeting the next round of stimulus payments toward lower-income households would save substantial resources that could be used to support other programs, with minimal impact on economic activity.”

Biden has said he’s willing to negotiate the terms of his $1.9 trillion coronavirus relief proposal.

“More and more voices across the country recognize the urgent need to get American families the help they need,” said White House Press Secretary Jen Psaki on Wednesday.

READ: Coronavirus live updates: US death toll could top 500,000 by Feb. 20, CDC director says

Negotiations in Congress are ongoing.

“Anything we do related to coronavirus needs to be targeted fiscally,” said Sen. John Thune (R-South Dakota). “Take into account that every dollar spent is a dollar borrowed.”

“We want to work with our Republican colleagues to advance this legislation in a bipartisan way, but the work must move forward,” said Sen. Chuck Schumer (D-Majority Leader).