Stimulus Checks payments have reached the Americans in three installments. The last round saw the IRS dispatch checks of $1400 to qualified individuals. The money was transferred to the bank accounts directly.
The receivers could also opt for paper checks. After the third Stimulus Check rollout, the government did not seem interested in further payment. This led to a sense of concern among the citizens. America is currently experiencing the threat of Delta strain. Covid cases have been on the rise for the past few weeks.
This situation could probably call for another shutdown. The Americans are demanding their government to aid them in tough times. Meanwhile, several states have decided to grant monetary checks to the residents.
IRS has rolled out three sets of Stimulus Checks so far. The first and the second round of payments were $600 & $1200 respectively. The final round was rolled out recently. The third check dispatched was $1400.
All the qualified citizens received their money as direct deposits. Despite vociferous claims, a lack of stimulus money might help the economy. Let’s find out more on the topic in detail below.
Stimulus Check: Inflation To Be Addressed By Us Government
Stimulus Checks did provide financial support to the citizens. However, it also made the economy suffer huge inflation.
The level of inflation reached a significant high during the pandemic. This happened predominantly because of the stimulus bonuses provided by the federal government.
However, with the checks gradually dying as the year progressed, the rate of inflation began to come down. Lawmakers have stated that lack of more stimulus checks will help to curb the rising levels of inflation.
However, Joe Biden recently stated that they need funds from Build Back Better to address some of the fields financially.