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Tuesday, May 30, 2023

Stimulus Check Update: Possibility Of A 4th Check

While the country is fighting almost 150,000 new COVID-19 cases every single day, the chances of a fourth stimulus check get dimmer. In the meantime, millions of Americans are also losing their access to massive relief funding that would help them be stable during this pandemic. The help that would have seen them through the pandemic has been taken over when the Delta variant is surging through the mainland. 

What Are The Things Americans Will Soon Lose In The Absence Of A Stimulus Check?

One of the most fundamental things that millions of Americans would lose along with a Stimulus check would be unemployment benefits. The additional $300 per week for anyone that has already received their unemployment benefits will be ending on the 6th of September- i.e., Labor Day. Most of the states have already planned on shutting the funding down in the hopes of bringing most of the citizens back to work- in an effort to rebound the economy of the country.

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The 30th of September also marks the final day that the federal government would be spending 100% of the premiums of health insurance for workers that were previously laid off but were able to hold on to their job-based coverage through COBRA. 

Currently, there is an online petition circulating that has requested Congress to approve a fourth stimulus check which would bring about a sum of $2,000 per adult and a sum of $1,000 per child until the pandemic ends. The petition has already garnered close to 3 million signatures. Nonetheless, the possibility of another stimulus payment seems quite implausible, as most of the political attention has turned towards the $1 trillion bipartisan infrastructure spending bill along with the Democratic budget bill worth $3.5 trillion. 

For most Americans who have been facing the brunt of the pandemic, the one thing that they can do is obtain a single debt consolidation loan- which will help combine debt that was collected previously. Since a fourth stimulus check seems to not be on the horizon, this would help them stay afloat.

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