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Tuesday, August 9, 2022

Fourth Stimulus Check Update Will Most Likely Be Coming This Week!

All eyes are fixed upon Congress for passing the much-needed fourth stimulus check. This week, a session of Congress will be held for the very 1st time since 20th May. Everyone is eagerly awaiting news and comments regarding the fourth stimulus check. In May, Jen Psaki, Secretary, White House, gave the last update from the government regarding the fourth round of stimulus checks. 

All The Eyes Are Fixed Upon News Regarding The Fourth Stimulus Check!

When she was asked whether the fourth round of checks is forthcoming, she only replied that Congress members are the ones to decide upon it. She also commented that these checks don’t come for free. Since then, no information has been provided about the fourth check.

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However, with this session of Congress coming around the corner, everybody is anticipating another stimulus aid. Since its last session, Congress has kept silent regarding the stimulus money. But several developments have taken place regarding a fourth check which can strengthen the proposal given by several Democrats to President Biden. 

The Michigan University in their new study stated that the total number of families with children reporting depression, financial stability, and food shortages have decreased by the range of 20% to 42% from January to April. This is according to a report by WXYZ 7, an affiliate of ABC. The last 2 series of stimulus checks were being distributed during these months.

Additionally, New York Bank forecasted that around 13 percent of stimulus checks are being spent on housing and groceries. How these checks are being spent is getting massively varied by different levels of income. The households with lower levels of income are likely to spend more from their checks which calls for a fourth stimulus check. 

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