Many Americans wonder if a fourth stimulus check would ever be approved to support their families and pay their debts. Recent reports said that democrats and lawmakers are backing the proposal of recurring payments until the pandemic ends. Experts' analysis on the situation, however, says it is unlikely.
While many Americans are still waiting on their third stimulus check delivery, talks for a fourth stimulus check are already taking place. This is because families cannot support themselves with one-time payment transactions. Stimulus checks proved helpful by keeping million of families from falling into poverty. However, it remains a short-term solution, with the country's unemployment rate continuously on the rise.
Fourth Stimulus Check Update
Officials are aware of this dangerous situation, and many have proposed continued financial support. CBS News reported that 21 senators signed a letter on March 30 asking the President's approval for recurring stimulus check payments for the duration of the pandemic.
The letter stated that "6 in 10 people say the $1,400 payments set to be included in the rescue package will last them less than three months." Statistics added that most of the stimulus money has been used to pay for accumulating debts since last year. Any leftover change was paid for grocery and other necessities.
Stephanie Bonin also proposed an online petition for the monetary support necessary to American families. Her change.org petition has accumulated 2,391,440 signatures (as of time of writing) and stands close to its goal of 3 million.
Some states, California in particular, have locally proposed and approved a fourth stimulus check payment. Governor Gavin Newsom used the budget he received from the Biden Administration American Rescue Plan to create a financial aid program for the state residents. He plans to send $600 stimulus checks to eligible citizens as one-time payment support.
Other states might follow suit. However, each program and monetary support provided would depend on the local government's decisions.
Are $2000 Payments in Stimulus Check 4 Still Possible?
Fortune reported that a $2,000 Fourth Stimulus check is unlikely. Despite the calls and proposals, it seems that the Biden Administration does not support the idea. Recently, White House press secretary Jen Psaki made a statement that drops the likelihood of a fourth stimulus check.
She said that the president is "happy to hear from a range of ideas on what would be most effective and what's most important to the economy moving forward... But he's also proposed what he thinks is going to be the most effective for the short term for putting people back to work, to getting through this pivotal period of time, and also to making us more competitive in the long term" (per Fortune).
In another Fortune report, it said that the consensus among economists reveal the pandemic crisis is nearing its conclusion due to the latest relief package and effective vaccine rollout. The country might even experience an 8% GDP gain for 2021! Experts argue that the country is recovering from the pandemic's effects and might now turn its efforts to long-term budgets instead of the fourth stimulus check support.
Related Article: Stimulus Check 2021 Update: How to Get Financial Assistance to Help You Pay for Your Mortgage