Nica Virtudazo Tech 08.25.2021 03:Aug AM EDT

Fourth Stimulus Check Update: $2000 Petition Set for Massive Milestone!

Is the fourth stimulus check going to get approved? The online petition for $2000 monthly payments is nearing its completion of 3 million signatures.With these many supporters, people are curious if the petition would finally get acknowledgment from federal lawmakers.

Stephanie Bonin first opened this online petition some time in 2020. She wrote that millions of Americans have suffered significantly due to the ongoing pandemic. Families, in particular, struggle with their employment status, financial bills and necessities. In conclusion, she said that "supplying Americans with monthly support until they can get back on their feet can save our communities from financial ruin."

Her latest comment on this petition also emphasized that recurring payments are necessary for economic recovery. This petition was proposed in search of dependable financial relief, similar to the ongoing child tax credit.

Fourth Stimulus Check Update: $2000 Per Month to Every American

At the time of writing, the online petition has 2,839,558 out of its 3 million goal. The petition also gained recognition as "one of the top signed on Change.org." At its current pace, the petition is predicted to be finished this August.

Undeniably, 3 million is a lot of supporters. The online petition took more than a year to reach its current milestone. During its progress, neither the U.S. House of Representatives nor the U.S. Senate has acknowledged it. However, supporters remain hopeful for some change.

Petitioners have made it their goal to reach the 3 million milestone before the end of the month to actively support the notion written by Bonin and request the approval of the fourth stimulus check.

Will the IRS Release a Fourth Stimulus Check?

Unfortunately, even with the online petition's ongoing progress, a fourth stimulus check is unlikely.

Back in May, the petition for a fourth stimulus check received a huge boost from proposals made by the Ways and Means Committee, as well as Senators. Despite the huge clamor, the Biden Administration invested their budget on other types of state projects like the Bipartisan Infrastructure Bill. For reference, this bill received a $579 billion budget, none of which isallocated for the fourth stimulus check.

It is also worth noting that as of July, the country was recorded to have a 5.4 percent unemployment rate, significantly lower than the 6.3 percent at the start of the year. This is a clear sign of economic recovery.

The government also poured its budget on other development programs that might have objectively replaced the fourth stimulus checks. There are two payments programs that eligible Americans can try and apply for financial relief.

Local Stimulus Check Payments: Each state have been provided with its own budget for local development programs. California, for example, decided to use their budget for state-wide stimulus check payments called "Golden State Stimulus Checks." Other countries like Georgia, Florida, Tennessee, Colorado, and Texas also have similar programs.
Child Tax Credit: This is an ongoing $300 monthly payment for eligible families registered to the IRS database, provided to support families with their child care expenses.