Stimulus Check Update: Other Modes Of Government Assistance

stimulus check
stimulus check

Although there seems to be no sign of a blanket stimulus check, it doesn’t imply that Americans won’t be receiving any help from the government. As it stands, the majority of the American families will still be deemed eligible for some economic assistance from the federal reserves as the entire country is trying to get through the damages caused by the pandemic. 

A Fourth Stimulus Check: Necessary or Irrelevant?

It needs to be noted that the demand of the Americans regarding another stimulus check hasn’t yet been manifested, but there are certain other assistance programs that are in effect. From the child tax credit refund to unemployment benefits, there is a program for everyone- especially to those who will be deemed eligible for it. While it has been issued that the unemployment benefits would be expiring in September, those who have already filed their taxes would definitely receive an adjustment on the tax returns. 

According to the Cnet, the stimulus check package has already deemed the $10,200 package worth of jobless benefits for single filers as nontaxable income. The package simply gets doubled for married couples who have filed their tax returns jointly. Housing assistance has also been made available to those who have been struggling to pay mortgage or rent. However, the biggest benefit is the Expanded child tax credit system. According to major reports from the IRS, the credit has already started deposition amounts worth $300 for every child below the age of six, and a sum of $250 for those within the age of 6 and 17. 

Nevertheless, for those who have been deemed ineligible for any form of governmental assistance, the idea of a fourth stimulus check does remain enthralling. This comes irrespective of the current strata of economic recovery which has rendered another stimulus package irrelevant.