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Thursday, December 2, 2021

Stimulus Check: 5 New Federal Programs That Bring Financial Reprieve

The chances of a 4th stimulus check appear unlikely at this stage given the present political scenario. President Biden is preoccupied with the infrastructure bill as Congress dithers on the final amount. But there is hope for those severely affected by the economic downturn aggravated by the pandemic as several pandemic programs have been set.

These programs have been giving stimulus checks to homeowners, renters, and parents. The Child Tax Credit has been giving out checks around the middle of each month starting July. It will continue till December 2021. These 6 stimulus checks constitute half the amount of the CTC payments. The other half will be adjusted against income tax returns next year.

Several Relief Stimulus Checks Have Benefitted Multiple Groups

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Assistance for rental has been significant with $46.6B being set aside under a law signed by President Biden. But this relief stimulus check has not been sufficiently publicized, and many tenants remain unaware that they are eligible for it.

Qualifying households are eligible for up to a year of back rent or any debt accrued after March 13, 2020, for rent. A year of gas and electric utility back pay also comes under this relief stimulus check.

The Homeowners Assistance Fund helps prevent mortgage defaults and delinquencies, foreclosures, loss of home energy services or utilities, and displacement due to financial hardship after January 21, 2020.

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This stimulus check provides a minimum of $50M for every state. Another $498M has been allocated to tribes or tribally designated housing entities. $30M has been sanctioned for the regions of Guam, Virgin Islands, Samoa, and the Northern Mariana Islands.

A single pandemic relief stimulus check of $600 has been announced by the federal administration for farmworkers and meatpacking industry workers.

Grocery store workers will get support from a $20M fund. A $50 monthly check has been provided for continuing broadband services in homes. Eligible citizens can also get a single discount on the purchase of a computer and laptop up to $100 depending on the contribution of the purchaser.

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