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Friday, July 1, 2022

Stimulus Check Update: Status For The Fourth Payment

The citizens of the country have been providing full support for a fourth stimulus check payment in the face of rising Delta variant cases. However, both the Senate and the House have been pretty occupied with the infrastructure bill of $1 trillion, along with a $3.5 trillion federal budget package. This implies that the stimulus package will be kept off the list of things for now, but fortunately, there’s still some relief aid on the table for this year- definitely for parents. 

Does Washington Have Plans For A Fourth Stimulus Check?

The IRS will be sending the monthly cash payments to quite a lot of families through the expanded CTC stimulus check payments, with the next payment going out on the 15th of September. And due to the American Rescue Plan signed in March, every new child will be counted as a qualifying dependent, therefore eligible for the third payment of up to $1,400.

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In any event, the money won’t be ready for the public until the taxes have been filed in 2022. The tax agency has also been sending several supplemental plus-up payments for those who have been owed stimulus payments. This includes a payment of $1,000 as gratitude to teachers and school staff in quite a few states. 

 Most researchers have analyzed that the first three stimulus check payments did help reduce hardships like financial instability as well as food insufficiency. Till now, most of the eligible adults have been receiving a max sum of $3,200 while children have been receiving close to $2,500. For families that have been struggling to stay afloat, this is not enough to get back from a state of lost benefits as well as wages. 

Ever since President Joe Biden signed the American Rescue Plan, the Oval Office has already proposed quite a few packages, which involve the Build Back Better agenda as well as the American Jobs Plan. Unfortunately, there is no direct mention of a stimulus check, which would definitely alleviate the suffering of the people.  

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