Will Americans Get A Fourth Stimulus Check? Here’s The Latest Update
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Is a fourth stimulus check coming? President Joe Biden said the payments are “making a difference,” but will that be enough to push the government to hand out another $1400 to struggling Americans?
“We’ve already sent more than 160 million checks out the door. It’s making a difference,” Biden told the country in his address last Wednesday. “For many people, it’s making all the difference in the world.”
Democratic lawmakers in Congress are calling for the fourth round of stimulus checks to help Americans still struggling financially during the Coronavirus pandemic, and more than 2 million people signed an online petition calling for “$2,000 stimulus checks for adults and $1,000 payments for kids”, followed by regular checks for as long as the pandemic lasts.
That might seem a little excessive, but according to a recent analysis from the nonpartisan think tank Urban-Brookings Tax Policy Center, the fourth round of checks “could lift more than 7 million people out of poverty.”
President Biden hasn’t specifically called for another round of relief, and many labor market and tax experts feel another $1400 is unnecessary since things are trending upwards.
From USA Today: “Labor market and tax experts, however, don’t anticipate that there will be additional stimulus checks in the next relief package as the economy continues to recover from last year’s coronavirus-induced recession and the job market improves.”
Even though talks of a fourth payment continue, some Americans are yet to receive the third stimulus payment.
“About 161 million payments of up to $1,400 per person have been issued since the third stimulus package passed in mid-March. Paper checks and EIP cards continue to continue to show up in mailboxes.
And plus-up payments, for those who didn’t receive what they were due, have also been going out for weeks. Together they add up to most of the $422 billion allotted in President Biden’s $1.9 trillion American Rescue Plan Act.”
While the country waits for another possible relief check, the best thing to do is keep your spending in check and follow this 10-step process to achieving financial freedom.