Stimulus Check has seen its rise like a meteor. There have been several proposals made to the government.
Petitions have been launched and letters have been produced. Some of the politicians too questioned the need for another round of checks. One of the main concerns for the residents is the Omicron scare. Recent data have shown alarming spikes in the infection level.
The number of infected people has shot up drastically. Death tolls are also on the rise. The Health Department has reinforced the use of strict covid protocols. Masks have also been made compulsory.
This has led the citizens to vociferously demand a further monetary announcement. Many politicians have also joined in support of the common people. Jerome Powell is the chairman of the Federal Reserve. He has expressed his concerns about the economy.
Powell is fearful of a negative impact on the economy by the virus. Unfortunately, the political support seemed to fade away. Despite huge demand, there is no possibility of new checks.
There is good news for some families though. A selected group of residents can claim a payment of $1400 that will lighten up their mood.
Let us learn about the new stimulus check in detail below.
Stimulus Check Money From Recovery Rebate Credit
Newborns are often considered a lucky charm for many. Well, in this case, the newly born babies have indeed given their families a reason to rejoice.
The federal government has announced a new stimulus check. Families that gave birth to a newborn or adopted a new child will get $1400 worth of stimulus money. The adopted child or any newly added dependent has to be a minor.
Claims for children over eighteen years will not be considered. Families need to earn less than $75000 annually to receive the stimulus check. In the case of joint filing, the ceiling has been set to $150,000.