The proposal for a fourth stimulus check continues, and reports come in that the U.S. Congress is getting close to its success. Plans have been drafted on how a fourth and even a fifth stimulus check could be distributed to millions of eligible American families to fight off economic poverty.
Many Americans have recently received, cashed and spent the money from their third stimulus check. This marks the third wave of relief payment that the American government provided for struggling households. The money was reportedly used on groceries, rental payments, bills, and other essentials. Yahoo! Finance pointed out that the stimulus checks were a huge success in helping American families from falling into poverty.
However, the pandemic continues and a new pitch was proposed for additional stimulus payments. The Biden Administration, House Ways and Means Committee, and panels of the Congress are currently locked in a discussion. Recent updates suggest that a fourth stimulus payment is likely to succeed.
$2000 Payment Gets Boost
Two powerful parties proposed the fourth stimulus check. Both have steadily gained support and influence that is urging the Biden Administration to release another wave of financial relief.
Last March, 21 senators wrote a letter directly to the president that the White House should provide jobless benefits and relief payments. Quoted from the letter, it says that: "We urge you to include recurring direct payments and automatic unemployment insurance extensions tied to economic conditions in your Build Back Better long-term economic plan. This crisis is far from over, and families deserve certainty that they can put food on the table and keep a roof over their heads."
The second party comes from an online petition by Stephanie Bonin. Her petition proposes a $2,000 per month recurring payment for the American people that should last for the duration of the crisis. Her petition, which aims to get three million signatures, currently has 2,224,254 supporters at the time of writing.
Moreover, a third pitch comes in that gives the fourth stimulus check a huge boost, bringing the proposal close to a reality. The most powerful panel in Congress, Ways and Means, wrote that: families and workers need certainty. They deserve to have food on the table and a roof over their heads despite this crisis. A fourth stimulus check would surely help families pay their food, houses and current debt."
Fourth Stimulus Check Tracker: Other Options Revealed
The fourth stimulus check is close to becoming a reality. The proposals have been passed and are waiting out on the Biden Administration's approval. Cnet, via Yahoo! Finance, reported that the financial relief payments in the future could come in different ways:
- Minimum Wage Hike: Some lawmakers proposed an increase on the federal minimum wage from $7.25 per hour to either $11-$15 per hour.
- Permanent Child Tax Credit: Financial funds are set to be provided to lower-income and middle-income families on their children's expenses. White House press secretary Jen Psaki mentioned that Biden wants to make the credit permanent.
- Recurring Stimulus Payment: It is a proposed method for the Biden Administration to continue sending out recurring stimulus checks for the duration of the pandemic
- Renewed Federal Unemployment Payments: In the March letter mentioned above, the senators requested an extension on federal unemployment assistance beyond September.
If the fourth stimulus checks are approved, expect that the money could be delivered through one of these planned proposals.
Related Article: Fourth Stimulus Check Tracker: Possible $2000 Payment, Timeline and More Details