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Tuesday, May 24, 2022

Can New Stimulus Checks Come In The Way Of Americans?

It has been in the news that the new year will bring a more realistic way to pay stimulus checks to the American citizens by direct payments. This direct payment can be done by introducing a new program after the end of the previous year. 

Possibility Of More Stimulus Checks

The majority of the population in America suffered a financial blow when the Covid-19 pandemic struck. The Government of the U.S. thus decided to help them out by granting them three back-to-back stimulus checks. These checks were a part of the U.S. Rescue Plan. 

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Numerous letters, calls, and petitions have been filed by lawmakers of Washinton to know about more direct payments issues by the Government. However, the White House chooses to be silent on this matter.  Recently, a new program is considered to be launched at the start of 2022 which will give direct payments to eligible citizens. 

The child tax credit is a program that provides $300 to a family with a child up to six years and $250 to a child whose age is from six to seventeen years. This is a monthly payment and eligible families will get a second payment after filing the tax return for the year 2022. 

Direct payment credits can only happen after the legislation known as Build Back Better is passed. This bill was always opposed by Joe Manchin, as he believes that stimulus checks discourage the majority of people to stand on their feet and work again. 

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Another program was proposed by Mitt Romney, who wants to give $350 to families monthly who have children of age up to 5 years and $250 to families with children up to seventeen years. This payment needs the work details of the parents in order for them to be eligible. However, it was opposed by Elaine Maag who said that if the objective of this program is to help kids then the employment details of their parents must not be relevant.

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