Whittier College Economics Professor Roger White spoke to U.S. News & World Report on the economic impact of the checks. The New York checks will be relatively small, about $150 to $400. Because of this, White says the boost won’t do much to lift the state’s economy.
According to White, even if everyone receives $400, that is only “about one-seventh of one percent” of New York’s economy, so most of the money will likely go to paying off debt, saving, or purchasing items in other states.
Read more at USNews.com.
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