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Thursday, June 8, 2023

Stimulus Check: Will Round 4 Commence?

While earlier rounds of the virus were linked to talk of another round of Stimulus Checks, there will be no such thing this time. This occurs as many homes struggle with the impacts of unprecedented inflation, and the great majority of household-supporting economic programs have run out of money.

Stimulus Checks May Not Be Given Out

The Biden administration has remained silent on the subject for some time since the president’s hopes are placed on the passage of his Build Back Better legislation. This was meant to offer a lot of help for families affected by covid-19, but it’s still no closer to becoming law than it was when it was initially proposed in March 2021.

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The COVID-19 epidemic has caused economic troubles. Government stimulus checks were granted for the neediest families; nevertheless, the result was not favorable, since it provided money to spend, generating inflation amid a financial collapse.

The main reason for the lack of a fourth check is that top-level politicians do not want it to happen. President Biden is beset by a slew of policy failures as well as the greatest inflation rate in years. If another stimulus check were to pass, this figure would almost certainly rise considerably higher.

As a result of this apathy, most other pandemic-era financial assistance programs have come to an end. The last Child Tax Credit payment was made on December 15, and there will be no more monthly payments because Congress has not enacted the Build Back Better measure. Anyone who is laid off will not be able to rely on government pandemic unemployment programs or eviction moratoriums to save their houses. The student loan moratorium has been extended until May 1, but moratoriums are useless when $40,000 in debt needs to be repaid.

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IRS and White House hope to compensate by giving double stimulus checks in Feb 2022. 

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