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Tuesday, May 24, 2022

Stimulus Check Provides Much Needed Respite

Stimulus Checks have provided the much-needed respite for the Americans. From the onset of the pandemic, the world was plunged into darkness. America was no exception. The shutdowns impacted the economy to a great extent. People lost their jobs and many were underpaid. This was the time when the American President stepped up to the rescue. He designed the American Rescue Plan. The plan provided stimulus checks in various ways to the citizens of America. These checks helped the people a great deal. They eased the financial burden from the shoulders of the common mass. Let’s learn how much of a positive impact the checks have on the citizens. 

Stimulus Check Payments Received

The IRS has already sent the second set of stimulus payments. This was the second of the six sets of benefits that would be received. These checks are the benefits of the Child Tax Credit. Any family having children is entitled to receive the aforesaid payments. Families having children under the age of 6 will get $3600. Kids within the age of 6-17 years will get $3000. There will be four more checks this year. The last of the checks are scheduled to be rolled out on 15th December.

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These checks have a huge impact on families. Almost forty million Americans are expected to benefit from the payments. Apart from serving only the purpose of the child credit, these checks are having important functions. Families have reported having used the money in buying essential needs. Some families have reported being able to meet their hunger needs with money. 

The rollout of the recent stimulus checks saw a sharp decline in food shortages. Many other households also reported having a problem while paying off the weekly expenses. With the introduction of new checks, those problems have been taken care of. 

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