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Thursday, October 6, 2022

Stimulus Check Hoax: No $2000 For You On Memorial Day

The coronavirus pandemic delivered a trillion-dollar boost to American businesses and workers. The government gave stimulus checks in waves, and it looked as if the pandemic worsened that the government would continue to print money indefinitely to preserve the economy. Despite extensive mask bans and travel restrictions, the American economy rapidly and dramatically recovered. In early 2022, owing to trillions of dollars in stimulus money in the economy, inflation soared to levels not seen in decades. Thanks to a Facebook post, thousands of Americans are speculating if a fourth federal stimulus check is on the way.

Memorial Day Stimulus Check Post Is Fake

According to the tweet, which was shared 250 times, a fourth stimulus payment of $2,000 per person will be issued by Memorial Day weekend.

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According to the tweet, which was shared 250 times, a fourth stimulus payment of $2,000 per person will be issued by Memorial Day weekend. Furthermore, the advertisement indicated inaccurately that a $300 to $500 per month child tax benefit would be accessible from July to December.

Literally, the entire stimulus check thing is a fabrication. The economic stimulus check package was enacted last year, with each taxpayer receiving $1,400. The check was included in the $1.9 trillion covid-19 rescue package. In terms of the child tax credit, the Internal Revenue Service (IRS) will begin issuing monthly payments for a greater child tax credit starting in July.

The quoted amount, however, is wrong, and not every home will be eligible. Low-income families can receive monthly payments of $250 or $300 per child between July and December. If the economy continues to sputter and another coronavirus variation causes an increase in hospitalizations and fatalities, the need for further stimulus will almost likely get louder.

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Despite the fact that the federal government appears to have dropped out of the stimulus check process, several states have taken up the mantle and are pressing on with their own stimulus plans. These are some of the measures that different states are seeking to benefit their citizens, however not all will be adopted.

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