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Monday, May 23, 2022

Stimulus Check Update: Don’t Expect A Fourth Payment

As Congress returned to function after its recess for Memorial Day in June, there were rumors of another stimulus check coming out. But, this debate hasn’t been rekindled by the legislators. And with the summer of Congress drawing to an end, there are far lesser chances of another stimulus check materializing. 

Once the Senate jumps to business on the 13th of September with the House of Representatives following just a week later, Congress will have several different priorities to deal with- of which stimulus check payments aren’t one. Incidentally, legislators aren’t seeing this as vital, since the economy has been gaining strength rapidly.

 Lawmakers move on to other priorities than Stimulus Check payments

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Nevertheless, it is quite fortunate that there are quite a few emergency programs that have been laid in place which one could tap into if they were having trouble staying afloat in the pandemic. When looking at it from a legislator’s point of view, there are very less chances of them having some sort of legitimate reason to draw out another stimulus check. As it stands, legislators have already voted for around $3 trillion in spending in the government. They have also been aware of the decrease in the unemployment rate from 8.4% last year, to around 5.4% in August. 

Also, the governmental aid might not be reaching every single American citizen just like the first three stimulus check payments, the current position of the pandemic has seen most of them getting by-which is a far cry from how things were just last year. There have also been three targeted programs for those who haven’t been able to stay afloat- an expanded Child Tax credit payment, where parents will be provided with a sum of $3,600 per child through advanced payments. Another involves emergency rental assistance worth $46 billion. While the last would have around $10 billion to help homeowners.

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