President Biden is looking to introduce two more stimulus packages. This could have further rounds of stimulus checks or have student loans canceled.
What Can Come In The Next Stimulus Packages?
The current proposals for policy lay emphasis on generating jobs and helping families. However, many citizens hold hope that more stimulus checks, as well as forgiveness of student loans, will also get attention.
Last week, President Biden gave a speech to Congress where he highlighted the stimulus checks’ impact. However, he made no clear indications whether there are more of the type coming. Biden said that through the stimulus packages, the politicians have fulfilled their promise. He continued that for many the amount is making a world of difference.
The third stimulus checks are still in the process of being sent out by the IRS. Several Democrats are still lobbying for more stimulus packages for the future. However, experts say that any more stimulus would require a lot of fighting to gain the full house’s support.
The American Jobs Plan from Biden would pump in $2T for the United States economy while generating infrastructure jobs. So far, no stimulus checks are included in it. The Plan would also look to inject $1T into paid medical and family leave, child care, and education.
People are furthermore expecting student loans to be canceled worth $10000. This proposal was previously supported by President Biden as well. However, neither of the two stimulus packages currently talks about forgiving student loans. Though Biden has asked his secretary of education to see if he can cancel debts for student loans worth $50000 on his own executive.
The findings on the question are yet to be specified by the department of education. On first taking office, Biden had paused payments on federal loans for students.