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Sunday, October 17, 2021

Stimulus Check Update: Why Are Lawmakers Pushing For Another?

The IRS has already gone ahead and sent over 169 million payments for the third stimulus check payments. Close to 2.3 million people received the $1,400 checks the previous month, and yet several legislators have been pushing Congress as well as the POTUS for bringing out another stimulus payment that would be recurring until the pandemic gets over.

To date, the response from the federal government about the economic crisis has been a payment of $3,200 to every single eligible adult- $1,200 under the Coronavirus Aid Relief, as well as the Economic Security Act the previous year. 

Fourth Stimulus Check- Citizens Hoping Against Hope

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Even with three stimulus check payments already made, millions of citizens have been suffering the financial conundrum. Almost 4 out of 10 people have stated that their annual income remains below the levels that existed before the pandemic. This has been reported under a survey conducted by TransUnion, a financial services firm.

The pandemic ended up worsening the hardships faced by several families that experienced suffering even before the pandemic took place. According to the Center on Budget and Policy Priorities, 1 in 4 households have been unable to pay for the very basics like food or rent. 

It wouldn’t go amiss to state that the stimulus check worth $1,400 wouldn’t last very long, which is the main issue that has plagued the lives of several Americans who are still struggling to stay afloat. Indeed, a petition on Change.org has garnered close to 2.6 million signatures for a fourth payment. Incidentally, the petition was launched the previous year which called for legislators to put up monthly payments worth $2,000. 

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Quite a few legislators have warmed up to the idea of another stimulus check. Close to twenty-one Democrats in the Senate sent a letter to the POTUS in support of recurring stimulus payments which would assist the citizens further. 

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