Stimulus Check demands have witnessed a significant surge in the past months. As days have passed, more and more people have raised their voices. However, apart from the Child Tax Credit money, there are no more federal stimulus checks on offer.
The child tax credit will be granted to families having children below eighteen years. The payments are rolled out in two parts. Kids within the age of six years will get $300. Children up to seventeen years will be entitled to $250. These payments are scheduled to be delivered every month till the end of 2021.
Several states have initiated their kind of stimulus payments. Thus, the possibility of the fourth round of federal checks looks bleak. Citizens are still coping up with the ill effects of the pandemic. One of the root causes for the demands to shoot up is unemployment.
Huge portions of society have remained jobless since the shutdown. This has instilled a sense of financial insecurity. Let us investigate the unemployment scenario of the United States below.
Stimulus Check: Unemployment Triggers Desperation
The current scenario of unemployment in America is alarming. The percentage of jobless citizens shot up to 14.8% in the month of March-April 2020. This is when the administration of Joe Biden decided to aid the families with stimulus checks. An initial payment of $1200 was announced for the families. This program was termed the CARES Act.
The government also assisted the unemployed citizens with a fund of $600. However, experts stated the fact that the money would not suffice in the long run. The federal government has speculated on the possibility of inflation. They are fearful of the fact that more payments might add up to inflation. Thus, the possibility of another stimulus check does not look bright as of now.