Even though the recent effects of the pandemic were disastrous, they have gone in the rearview mirror. However, the records show that many countries have been demolished financially. Also, inflation has been going upwards in the recent few days. To help to fight the current situation, the Federal Government has given away some stimulus checks. However, these checks have been under control this last year, but some states are still suffering due to high inflation rates. Many economists also fear, observing the current situation, that if the market enters a recession, many Americans might face economic uncertainty.
Federal Government Have Denied Any Possibilities Of More Stimulus Checks Coming
Twenty-one senators last year signed legislation to keep bringing the stimulus payments to the home of Americans. However, it didn’t happen. Then-president Biden also asked the administrative bodies to sanction $22.5billion from the Federal Government to support the nation’s response to the pandemic. However, the Government has declined the proposition too.
Some States are Sending Out Tax Rebates as Stimulus Checks to Their Taxpayers
Although the president’s entourage favors sending out stimulus checks, Congress shut the chances of it down as they fear further inflation in the market with that. However, in the meantime, many states are sending out small tax rebates to their taxpayers. More than a dozen states have already signed legislation to send tax rebates for their joint and single tax filers; South Carolina is the last addition to the list. Indiana, Delaware, California, Hawaii, and many other states expect to send out these payments to those eligible for these rebates by the end of the year.