Following a decade of sluggish economic growth that added to the severe and widespread social and economic devastation brought on by the global financial crisis, many households have experienced financial strain.
This financial strain has only increased due to the coronavirus epidemic, as people have had to incur more fees to pay for medical and other expenses. More stimulus funding may be required to assist Americans in affording necessities, given the massive increase in the price of eggs.
The cost of eggs is the latest price increase as Americans struggle with rising prices. Nearly 58 million birds have died as a result of the avian influenza epidemic, dramatically raising the price of eggs.
The average price of a dozen excellent Grade A eggs as of December 2022 has increased significantly compared to the previous year. The federal government is unlikely to provide any stimulus payments due to increased egg costs alone. Still, some states have already taken action to compensate for inflation, with some particularly waiving taxes on necessities.
Financial Relief
Legislators have introduced several laws that are aimed at offering financial relief to aid individuals in coping with the increased expenditures.
For instance, the American Rescue Plan Act of 2021 extended tax credits and unemployment benefits and provided direct stimulus checks to people and families. The government has also established several initiatives to assist citizens in paying their rent, loans, and utility bills.
More Stimulus Payments Needed
More financial aid might be required, though, if the price of eggs continues to grow. If egg prices remain high for an extended period, it may be justified to provide further stimulus funds.
This could assist people in affording food and other necessities, enabling them to preserve financial stability. Due to the rising price of eggs, it is uncertain whether the federal government will take action to offer more stimulus checks.
But it’s evident that price increases significantly influence household spending, and the government may need to take some action to ensure people can afford the necessities. More stimulus funding might be required if egg costs keep rising to lessen the populace’s load, according to DMN.
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