Today we are going to talk about the possibility of a 4th stimulus check. Millions of Americans are going through difficult financial times. The Government has given the people $1 Trillion from the Federal Relief Fund in helping the families survive the Pandemic. The Government spread this relief over three Stimulus checks in the recent past. Due to the recent Delta variant making its round around the population, some states have considered distributing state-wise Stimuli in the recent Stimulus Check Update of their own.
The Situation of 3rd Stimulus Checks
According to the IRS, many families are already done with the amount they received from the 3rd Stimulus Update. 3rd checks were distributed around May this year, which was already looking dire when the Pandemic unemployment funds stopped last month. Families are now unable to pay their bills and hoping to see things return to normal.
Next, we will give you a stimulus update on what’s going on in the House of Representatives and the senate. This Stimulus Check Update is regarding the infrastructure bills worth around 4.7 Trillion dollars. France is upset with America, the UK, and Australia over the submarine deal. France instructed their officials to get their revenge on these countries.
Booster shots Stimulus Update
If the Democrats cannot agree on the 3.5 trillion Dollars human infrastructure bill, the progressive democrats are saying that they will reject the 1.2 Trillian Dollar Physical Infrastructure bill. Without further economic stimulus check updates, which they should inject into the economy, Americans may have to prepare for more financial distress resulting from the upcoming mass evictions, the termination of the federal unemployment benefits, elevated COVID-19 cases, turmoil in the financial markets, and many more problems.
If the Democrats cannot agree on the two infrastructure bills, they may end up scrapping both bills and start over. Nothing is stopping the Democrats from doing that. If the Democrats choose that route, they could include a fourth stimulus check update into a new stimulus bill.
Possibility of 4th Stimulus Update
Whatever the democrats decide, Biden’s administration is going ahead with its Infrastructure Plan, which they are looking forward to enhancing the economy by a lot of rebuilding effort. This Bill includes refurbishing schools, roads, and airports while building affordable housing with all the basic needs required for daily life.
He is looking forward to shaping this fall in Washington and gearing up for Congress to complete the assigned two infrastructure bills. One of these bills will include hikes in taxes to raise the debt ceiling.
If the infrastructure bills fail, the democrats may start from scratch with the new stimulus bill. Congresswoman Alexandria is trying to rally enough support to bring back the federal unemployment benefits. The Federal Reserve is investigating whether they should create their digital currency as they are currently working with MIT.
Stats Shows 4th Stimulus Update
According to John Matarese, looking at the status of talks in Washington and how YouTubers are cashing in on our interest. According to him, many families that received the stimulus checks in early spring are already done with the $1400. Keeping this stimulus in mind, a question arises about whether they will receive another one of those stimuli or not. The problems with this situation are that the average American is pretty used to these stimulus checks.
There is a petition going around online on the change.org website in which the citizens are demanding a new stimulus check and a recurring one at that. This petition has been signed by 2 million people already and increasing daily. Though not a surprise as they are now used to the stimuli, this petition has been supported by 20+ Democrats and signed already.
The second alarming thing about this Stimuli is that this free money has made people lazy, and they are not willing to work as much as many small business owners claimed. There is only one exception to this issue, a $300 child tax credit. This tax credit started to go out monthly in July and seemed as though it would recur.
To understand the things we have mentioned above, we need to discuss the $3.5 Trillion Joe Biden’s Build Back Better Budget.
Build Back Better
This budget is the money spent over ten years. Following are some salient features:
- This Bill has improved child poverty, cutting it by 50%, and similarly, the child tax credit fortifies this cut. This Bill includes universal Pre-kindergarten for 3-4-year-olds, free meals for extra 9 million kids.
- Extra money to repair run-down schools and 2-3 years of community college.
- Twelve paid weeks of medical leave for the families for the first time in our present history.
- Medicare is getting new powers and enhancements to negotiate drug prices will bring down the cost of your prescription, which is a good thing given primarily due to spending twice than other nations.
- Furthermore, these powers also allow Medicare to improve their coverage which includes more for the seniors like dental care, vision improvements, and finally, hearing aids while reducing the eligible age to 60 from 65 before.
- This Bill also increases wages for home care workers by expanding home care which will help more seniors precisely like the above postulate.
- This Bill also reduces the gap for low-income houses while providing Medicaid health to uninsured citizens.
- It is giving more incentives for homeless people in terms of housing vouchers and supporting non-profits by the justice department that will help mitigate community violence.
- Action on climate change, including a clean electricity performance program which would create 8 million new jobs. Financial incentive to buy electric vehicles to build charging stations for them. Homeowners to weather fit their homes.
- New forestry laws and flood control programs.
The Bill may help us focus on the necessary and good stuff invested in over ten years. Due to the focus on formulation and passing of this Bill, news of Stimulus Update has been relatively scant in the past few months. But the things like child tax incentives are another valuable cash injection into the community you can call a stimulus that will go well through the next five years.