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Monday, July 4, 2022

Stimulus Checks’ Cost On The Taxpayers

What would be the possibility of economic impact in vase the fourth round of the stimulus check payments were provided to the citizens of the United States of America by the federal government. The 1.9 trillion USD financial package that was approved by the US Congress was to provide an economic push to those people who were struggling financially. So accordingly, those people were provided with the money whose income did not surpass 75,000 USD. 

Stimulus Check- Downside

With the increase in the case of the Delta variant of the coronavirus pandemic, people desperately want to know if there is another round of the stimulus checks or not. It does not matter if the amount of the federal aid payments is 1,200 USD, 1400 USD, or even 2,000 USD. What matters is the fact that with the availability of the next round of the stimulus check financial aid payments, the implications that the taxpayers will face have both short-term as well as long-term effects.

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In order to find out the exact amount of the cost that the taxpayers will have to bear, it is important to have a look at the economic measures that have been provided before. Following the “American Rescue Plan” approved by President Joe Biden, the amount that was provided to the eligible citizens as the stimulus checks was 1400 USD.

The further provided an extension of the unemployment benefits which further increased the total amount of the financial aid provided to the people. And after calculating everything, America’s national debt as of now is 25 trillion USD. If the fourth round of payments is provided, the amount of the debt can go up. And with the Delta variant infection in the country, it is very much likely that the federal government will provide the next round of the money.   

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