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Friday, February 3, 2023

Fresh Stimulus Check: What Can We Expect In 2022?

The monthly stimulus check given under the enhanced Child Tax Credit payments will stop from January and people who have become accustomed to the monthly payments will find it difficult to manage. Even the social spending bill has been sabotaged by a Democratic Senator after Joe Manchin declined to go along with it.

Congress had to push through the bill to send out stimulus checks. The IRS will find it difficult as Congress has closed for the holidays. So the December 15 stimulus check remains the last to go out to families for now.

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Jen Psaki, the press secretary at the White House said that the federal administration was trying to push through a bill acceptable to all. They might even add in an extra payment. Psaki said that if they can get the bill passed in January, there is a possibility of a double payment in February to make up for the non-payment of the stimulus check in January next.

States Have Come Up With Their Own Stimulus Checks

Several states have come up with stimulus checks of their own. California was the first off the mark with the Golden Stat stimulus check. Georgia, Florida, Connecticut, Tennessee, and New York jumped onto the bandwagon.

The state check indicated that a federal stimulus payment is unlikely shortly. But the checks are not universal in the other states. Florida for instance has only given payments to school teachers and administrators. Others have given payment to workers who rejoin the workforce in certain industries.

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Experts opine that another round of federal checks is unlikely as most states would prefer not to go in for another round of lockdown. They say that the economy has already experienced a downslide and further shutdowns could cause irreparable harm to it.

For a federal check to be issued, there has to be a rapid spike in pandemic cases and states are not willing to risk a potential slump in the economy

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