Checks for Stimulus: What Are the Odds of Getting a Fourth Check?

0

Even though more than 3 million people in need have encouraged the White House to issue a regular monthly payment or the fourth round of stimulus checks this year, the likelihood of this happening is minimal. President Biden has additional plans for helping the economy, according to Press Secretary Jenn Psaki.

A Quick Look

    • A Change.org petition with more than 3 million signatures asks for recurring monthly payments for everyone.
    • With a letter to President Biden, 21 Senate Democrats backed the petition.
    • Because stimulus checks or recurrent payments are “not free,” the White House has warned they are unlikely.
    • Instead, Biden wants to pass the Build Back Better Act.

The White House is unlikely to support the fourth round of stimulus payments.

Inflation in the United States reached a 40-year high of 7.5%  in January. And the cost of living continues to grow. As a result, millions of Americans are unable to pay their bills or afford basic essentials like groceries and gas.

However, even before commodity prices skyrocketed, there was a strong clamor for a fourth round of stimulus checks to deal with the financial load of the COVID-19 pandemic. And a change.org petition went viral, urging the government to go even further and distribute monthly payments of $2,000 to each adult and $1,000 to each child as part of the stimulus package.

The page states, “Our country is still gravely battling.” “Many Americans have yet to benefit from the recovery; the genuine unemployment rate for low-wage employees is believed to be above 20%.” And many people are still paying off expenses from the previous year, such as utilities, rent, and child care.”

The petition is still live today, and it is gaining traction as the cost of living rises.

Last March, 21 Senate Democrats signed a letter to President Biden urging him to take the petition into consideration. They also requested that he include automatic unemployment insurance extensions. Bernie Sanders, Ilhan Omar, and Elizabeth Warren were among the group’s members.

“According to an Urban Institute analysis, a single $1,200 cash payment paired with the expansion of increased unemployment insurance and additional support could lift 12 million individuals out of poverty. “Adding a second direct payment could lift another 6.3 million individuals out of poverty,” they stated.

Despite the demand for compensation, the Biden administration has stated repeatedly that it opposes the scheme.

With better legislation, the Biden administration hopes to boost the economy.

“We’ll see what members of Congress have to say about it.” During a May 2021 briefing, White House Press Secretary Jen Psaki noted the stimulus cheques are “not free.”

At a later briefing, Psaki repeated Biden’s view, saying that getting people back to work is more important than issuing more benefits.

The White House has remained mum about the demand for any form of stimulus boost in recent months, even though it has maintained its position. Instead, the government is pushing for legislation to “Build Back Better.”

While the legislation’s contents are still being worked out, Biden has advocated for the reinstatement of the Child Tax Credit, which could provide families with a monthly payment of up to $300 per eligible child.

While a fourth stimulus check is unlikely, some people may experience similar alleviation in a different form.

READ ALSO

Leave A Reply

Your email address will not be published.