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Thursday, October 28, 2021

Stimulus Check Update: Is The Fourth Payment Plausible?

With the rise in Covid cases again, a fourth stimulus check would definitely be helpful, but the question stands- is it possible? As it stands, the pandemic is still on track almost a year and a half after the first wave shut the American economy completely. The Delta variant currently is increasing the number of cases amongst those who are unvaccinated.

The main worry for the economists is that the rise in cases comes with the growth in the economy, so it is a possibility that the cases end up shutting the economy again. But the main question is, will the IRS provide the same for this year?

Support For A Fourth Stimulus Check

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There have been a select group of Democratic Senators, which include Elizabeth Warren, Ron Wyden, and Bernie Sanders, who sent a letter to the President in March which requested recurring payments along with automatic employment insurance extensions which were tied to economic conditions. As the Senators mentioned in the letter to the POTUS, the pandemic wasn’t over yet.

It also went without saying that qualifying families did deserve some certainty that they would be able to survive the year. Therefore, a fourth stimulus check would be a definite godsend to these families who shouldn’t have to be at the mercy of legislative timelines.

There have been multiple talks about automatic payments which would be sent to only those economic metrics which fit certain criteria. It can be understood that these triggers would definitely make stimulus check payments a major reactive force in countering the economy’s gradual decline. 

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A major sector of the American population has been in favor of recurring relief payments, as mentioned by a January poll from Data for Progress, where almost 65% of the population have supported the stimulus check payment of $2,000.

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