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Saturday, October 16, 2021

Stimulus Check Update: The Push Behind The Fourth Payment

The agency has already provided more than 169 million payments as a third stimulus check aid, with around 2 million people receiving a sum of $1,400. Nevertheless, there are a few legislators in Congress who have been pushing for the fourth round of payments that would help the people stay afloat in the current pandemic situation.

Currently, the response of the federal government to this crisis caused by the pandemic has been to deliver a sum of $3,200 to every single adult: around $1,200 in March under the Coronavirus Aid Relief and Economic Security Act, and a sum of $600 in a relief measure which was sent in December. 

The Need for a Fourth Stimulus Check

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The third stimulus check of $1,400 was also paid under the American Rescue Plan that was signed by President Joe Biden in March. Yet, millions of Americans are still under stringent financial distress, while a spread of the Delta variant has led to the creation of new economic headwinds. Almost 25% of the citizens of the country have been struggling to pay the expenses of their household throughout the last week- as was stated in Census survey data from July to late August. 

As of now, almost 14.6 million people have been receiving some form of unemployment benefit from the government. The current rate of unemployment stands at 5.4%, which is still higher than the level pre-pandemic- 3.5%. While the number of unemployed individuals has gone down tremendously, there are still quite a lot of them around. Especially, since economists have been signaling for some immediate stimulus check assistance- for the Delta variant could increase the rate of unemployment. 

For a larger section of the public, the last stimulus check round of $1,400 payments wouldn’t last long, which has been one of the foremost issues on every American’s mind. There have been petitions going around for some more financial assistance from the government. 

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