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Saturday, May 21, 2022

Stimulus Check Update: More Stimulus Arriving

Throughout the coronavirus pandemic, the federal government brought about three different stimulus check payments. These payments were sent to individuals who qualified, along with advance monthly child tax credit payments which are still ongoing.

With the increase in the number of Delta variant cases along with the end of enhanced unemployment benefits, several families have still been facing massive hardships. One single petition has already called for recurring checks worth $2,000 which would be sent to all Americans- which has gained massive support. 

Will More Stimulus Check Money Come This Year?

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The answer is not that close-ended. Several governors have been providing their residents with some additional financial relief. The residents of California recently got through their second round of the Golden State Stimulus check payments worth $600. Several other states have been providing their teachers with massive bonuses. 

Currently, Congress doesn’t have a plan in place to approve a fourth stimulus check payment in 2021. Most of the legislators have already been focused on the infrastructure bill of $1 trillion, along with the federal budget package of $3.5 trillion which would provide aid in several other ways.

And despite the fact that some people would definitely qualify for around $1,400 in additional stimulus money if they ended up having a kid, the money wouldn’t be in their bank accounts until next year. As of now, the best means for some additional income would be the temporary expansion provided on the child tax credit payment for the year 2021 which would send qualifying families a sum of $3,600 per child. 

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Most parents will also have the option of postponing their advance monthly stimulus check payments, and then get the payment in the next spring. There is absolutely no cap on the total amount that a family could accrue.

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