Is A Fourth Stimulus Check Coming? A New Budget Proposal Could Have The Answer
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Is a fourth stimulus check coming to eligible Americans?
The possibility of Americans receiving a fourth stimulus check has been floating around for months. With the Delta COVID-19 variant surging, no seems like another opportunity for a fourth check to help struggling Americans.
The biggest question, though, is “where would that money come from?” Some states have taken to handing out their own stimulus checks, but another round from the government might be on the way due to a tax overhaul Democrats are currently pushing.
Fresh off a House vote to advance a $3.5 trillion budget blueprint, Democrats must now draft a massive social spending package. A major point of contention? Taxes.
Before Democrats pass the package with likely unanimous GOP opposition, they’re facing some internal disagreements over how to fund it — likely a collection of tax hikes on the wealthiest Americans, investors, and large companies.
President Biden proposed a 28% corporate rate, higher than the current 21% level. But moderate Democrats like Joe Manchin are already uneasy and say they’d prefer to see a 25% rate instead.
Tax expert Kyle Pomerleau of the American Enterprise Institute told NBC News that “the tax changes could raise $800 billion” which is more than enough money for the federal government “to finance two $1,400 stimulus checks similar to the ones most Americans received in the $1.9 trillion Biden stimulus law during the pandemic.”
These budget changes are still a long way off, and the Biden administration has not passed any direct legislation regarding a fourth stimulus check. Congress has also steered clear of any moves for a fourth stimulus package.
If you’re currently looking for more ways to make money and can’t wait around to see if a fourth stimulus check is coming, check out our section on making passive income or some side hustles that will earn additional money.
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