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Tuesday, January 31, 2023

Stimulus Check Payment Phase Can Be Extended For A Fourth

A push for the fourth stimulus check payments can be seen as the IRs just finished the third phase. Payments worth 169 million were issued in the 3rd phase of the stimulus check. This helped almost 2 million people as they received $1400 checks in their bank accounts in July.

According to the record, the $3200 was sent out to the eligible adults. But it is still not enough as Americans are still struggling to pay their expenses. The unemployment rate is at 5.2 % which is a little higher than the pre-pandemic time. But it’s still not stable. Also, the expired federal benefits made 9.1 million people lose their enhanced unemployment benefits. 

Major Crises And Stimulus Check Payment

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Although some states are trying to create their own stimulus check benefits payment. California will provide low and middle-income families with $600 via golden state stimulus check.

Parts of Texas and Florida authorized bonuses to help teachers. If the American Families plan moves ahead families can have the benefit of Child tax credit till 2025.

The stimulus check payments helped millions of Americans to pay their debts and expenses. The hardships people could avoid because they received these stimulus payments in 3 rounds. But as congress haunted to put a stop or halt on the fourth payment that made people worry a little more.  

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Even though the stimulus payments were a success many people are yet to receive the aid. Many people did not register for the program as they thought they were not eligible. Some were actually ineligible. So the hardships due to the pandemic are still pretty impactful to most people. Some economists advised providing these government aids until the economy and unemployment rates recover.

The fourth Stimulus check is something you should not be depending upon. The reason behind it is the administration is likely to focus on the other major issues which took place in the last couple of months. Also, they are trying to rebuild the economy by boosting the infrastructure plan. 

The spreading of delta variants is still a threat to the economic rebound.  The unemployment rate is still high. In Texas almost 7200 job losses took place. At this time the unemployment benefit of the federal government expired on September 6th. These problems indicate that the hardships of households may increase and the growth of the economy will take a little longer to flourish. 

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