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Tuesday, July 5, 2022

Stimulus Check Update: More Incoming Payments?

It is being assumed that a fourth stimulus check provided by the Federal government could be shaped in two different forms. One of them would involve monthly checks with a relatively smaller amount, and the other would involve a one-time payment of $2,000.

Interestingly, both the options have been set up by the legislators in Congress as a major follow-up to the third round of stimulus relief payments. The payments would all be a part of the American Rescue Plan Act of March 2021. 

The White House and The Impending Stimulus Check

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As it has been reported, the US economy still has a long way towards recovery, and it is doing so with a slow but steady development of jobs. Inflation, however, also seems to be on an exponential increase, which does contribute to major fears among lawmakers and economists who believe that further stimulus check payments might just fuel the increase in prices.

Therefore, no legislation in Congress can be instituted just to form another stimulus payment- despite several Democratic lawmakers clamoring for that to happen. The White House has already passed the buck back- with the POTUS stating that he would be listening to whatever Congress comes up with. 

Back in May, around seven different Democrats on the House Ways and Means Committee penned a letter to the President in order to request him for a fourth, and possibly a fifth stimulus check. This would be considered a part of the American Families Plan that was announced previously.

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Nevertheless, the White House has had very little to talk about an impending stimulus check. In a press conference that took place in June, Jen Psaki, the Press Secretary for the White House stated that the POTUS was definitely open to a vast range of plans when they were asked about the provisions for yet another stimulus check payment.

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