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Friday, June 18, 2021

More On The 4th Stimulus Check: You Could Be In For Another Fresh Round Of Payment In 2021

Many senior Democratic lawmakers and around 2.1 million people have all petitioned the White House for the fourth round of stimulus checks. They feel that the third round of the stimulus payment is not sufficient to help people out of the economic crisis caused by the pandemic.

The authorities have already sent 2.7M payments of the third stimulus checks. And there are still many payments to be made before the end of December deadline. And that includes many plus-up payments to people who have not received the full amount in their first check.

Call For A 4th Stimulus Check

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But there has been a growing clamor for a fourth stimulus payment. 2.1M people are signatories to a petition that has called on the government for a fourth stimulus check. That is the only way, they feel, that millions of Americans can be saved from immediate severe scarcity and homelessness. The object of the exercise is to achieve 3 million signatures for a $2,000 stimulus check for adults, plus $1,000 for children.

President Biden has so far held back on this issue. He is instead pushing for the American Jobs Plan, his infrastructure plans for America that will need another $2 trillion to boost infrastructure in every field including roads, bridges, telecom, education, etc. that should have far-reaching effects on the economy.

Could We See A Fourth Stimulus Check-In 2021?

Neither of President Biden’s two plans for the American economy calls for any new direct stimulus check. Instead, he has concentrated on the child tax rebate set to start this year in July.

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The President wants to continue child support till 2025. That should significantly help in bringing many American families out of the grip of poverty. The full payment of $3,600 max for every child would cut child poverty by 45%, according to research by Columbia University.

The third of President Biden’s plan, The American Family Plan has provisions for direct monetary intervention for both families and individuals. This is what many Democratic lawmakers have pitched for, including many prominent Senators like Bernie Sanders and Elizabeth Warren. They have pitched for a fourth direct stimulus payment.

 

The Child Tax Credit payments are set to start in July, with half of the payment to go out by December 2021, The President has put forward the proposal to extend it to 2025.

Many senators have called for a wage hike from the present $7.25 to $15 per hour. This rise would make 37% of American households independent financially. The 10 progressive senators have also called for extending the unemployment assistance by the Federal government beyond September 6.

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