Do Americans need a fourth stimulus check? A research study says yes! Because of ongoing inflation, slower job gains and crippled supply chains, Americans need the financial aid now more than ever.
In these last couple of years, the federal government has sent out three rounds of stimulus checks, which amounted up to $1,200, $600 and $1,400. The money was reportedly used for rental payments, bills and other accumulating debts. Any leftover change is paid on groceries and other essentials.
Members of the Congress and senators found the stimulus program effective against American poverty. Because of this, some are pushing the approval of a fourth stimulus check.
Fourth Stimulus Check Study Says New Payment Is Critical
Lawmakers are not the only ones to discover about the stimulus checks' effectiveness. According to a research study by Capital One Insights Center, a stimulus check might be critical to American families earning under $100,000 annually.
In spring 2020, the research team investigated the impact of stimulus checks on the U.S. economic recovery. They studied three annual income groups, composed of people earning less than $25,000, $25,000-$100,000 and over $100,000. They learned that Americans who needed the checks at the start of the pandemic continue to suffer the most.
Their discovery highlighted two ongoing issues: an inflated cost of living and an increased unemployment rate. Because of the pandemic, 32 to 36 percent of the low-income earners lost their jobs. Underemployment issues also ran rampant among Black and Hispanic/Latinx workers than white workers.
In comparison, the middle earners experienced economic insecurity, and the high earners already regained their stability. This study emphasizes that the people who need the fourth stimulus check the most are the low income earners who are still struggling because of the ongoing pandemic.
$2000 Fourth Stimulus Check Update: Online Petition
In an online petition created last year, Stephanie Bonin wrote about the low wage earners who face large debts over utilities, rent and child care. She said these are important reasons why the government should give out a fourth stimulus check.
Bonin also emphasized the importance of reliable and recurring checks. Since the pandemic might not end anytime soon, American families need something to rely on to help them get past the financial crisis.
Bonin petitioned a fourth stimulus check of $2000 monthly payments for the duration of the pandemic. She said, "We need immediate checks and recurring payments so that we can keep our heads above water. Congress needs to make sure that we won't be left financially ruined for doing our part to keep the country healthy."
Many people supported her claim, and the online petition has already gained 2,960,790 signatures out of its 3 million goal at the time of writing.
Unfortunately, the Congress and lawmakers have yet to acknowledge this momentous online petition. Americans are hoping that the petition could get approved when it finally completes its signature goal. Hopefully, it could reach its end goal before the year ends.
Related Article: Fourth Stimulus Check Tracker: Who Is Eligible for New $1400 Payments in 2022?