Following up on the round relief payments made earlier this year, both the monthly stimulus checks or fourth stimulus checks, and the one-time stimulus checks worth up to $2,000 have been suggested.
Some Lawmakers are Calling for More Stimulus Checks
President Joe Biden and members of Congress are working on the specifics of another stimulus package, with some members of the House and Senate pressing for an additional stimulus check, according to a recently published article in CNET.
White House press secretary Jen Psaki said in early June that Pres. Joe Biden is open to the idea of another relief package or fourth stimulus check.
Meanwhile, some Democratic legislators are asking for additional pandemic relief funds either as a one-time direct payment or as a regular payment. This has attracted widespread public and financial analyst support.
Positive Impact of Stimulus Checks
During the pandemic and subsequent economic fall-out in the country, stimulus checks and relief packages helped Americans survive. Though the economy is improving, it is still a slow and uneven recovery, according to a published report in CBS Sacramento.
The American Rescue Plan's third round of relief payments began three months ago. Since then, nearly 169 million individuals have received payments of up to $1,400, totaling $395 billion of the $422 billion set aside.
The relief package includes the 2.3 million cheques and plus-up payments, which were issued only a few weeks ago. The cheques from the American Rescue Plan arrived nine months after the release of $1,200 payouts and nine months after the $600 installments from January.
Group of Democratic Lawmakers Sent a Letter to Pres. Joe Biden
In May, a group of Democratic House Ways and Means Committee members wrote to President Biden, asking the administration to add a fourth stimulus check to the American Families Plan, which was unveiled earlier this spring, per Tomsguide.
Moreover, since the American Rescue Plan was signed into law in March, two additional stimulus measures have been introduced. However, as stated on May 28 White House fact sheet on the fiscal 2022 budget, neither the American Families Plan nor the American Jobs Plan asks for a fresh stimulus check at this time.
It is also assumed that one of these legislations may propose additional monetary support programs for particular categories of beneficiaries, such as parents earning less than a set income and individuals who are unemployed.
Three Types of Payments Under the American Rescue Plan Act of 2021
Stimulus Checks- Those who fulfill the criteria or are qualified for this pandemic relief package have received stimulus payments of up to $1,400. Some eligible citizens also receive "plus-up" payments.
Child Tax Credit- For 2021, a temporary extension of the child tax credit grants eligible families up to $3,600 for each kid. The citizens are encouraged to use the IRS tool to know more about the child tax credit. These monthly partial payment checks will be sent beginning in July and will continue until the end of the year, with the final payment in 2022.
Federal Unemployment Bonus- The weekly unemployment incentive of $300 and the Pandemic Unemployment Assistance for gig workers, freelancers, and the self-employed have been extended until September 6. However, since half of the state governments decided to opt out of the extended benefits before September 6, millions of unemployed Americans in those jurisdictions were cut off as early as June 12.
Even though there are calls for fourth stimulus checks and Pres. Biden appears to be interested in it, details on when the House of Congress and Senate will deliberate for this another round of relief aid remain unclear.
Related Article : Fourth, Fifth Stimulus Check Possible As Lawmakers Push for Next Relief Payments, But Release Date Still Uncertain
