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Monday, September 26, 2022

Stimulus Check Update: How Much Money Reached the American Households

The COVID-19 Pandemic has destroyed many companies, dissolved many economies, and wrenched us, humans, in different aspects. When it first wreaked havoc nationwide, the Federal Government did what it should do. They stood up and tried to help the common American Households with some stimulus checks. However, even though it helped the commoner, it became a disastrous decision for the economy as inflation started growing.

Anyhow, the Federal government has tried to send out stimulus checks on different occasions to the common Americans three times. However, it wasn’t a fixed amount for everyone. Some households received much more than that others. This was complete because either they had more people dependent on them or their income was too low.

The Average Payment Check Worth Divided By Income Levels: 

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Most American households got these stimulus checks three times from the federal government in the last two years. The first two of those checks were signed by Trump, and one was sent out from the Biden administration.

  • The average across all income levels: $1676 from their first check, $965 from their second, and $2385 from their third.
  • People with an income under $10000: $1395, $729 from the first two, and $1777 from the most recent one.
  • When average income is $10 to $20000: $1573 and $949 from the first two stimulus checks and $2265 from the last one.

This way, the list goes on up to taxpayers with an income of $200000 or higher, paying them $597 and $454 in the first two checks and $3071 from the new president’s administration.

Will More Stimulus Checks Be Coming? 

Well, even though a lot of our fellow countrymen are hopeful about the chances of more stimulus payments coming their way to fight inflation post COVID period, there might not be any more payment from the Federal Government. Some states, however, send tax rebates to their taxpayers to help them. 

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