Stimulus Check 4: Will There Be One?

Stimulus Check
Stimulus Check

There is a decreasing likelihood that the federal government will issue a fourth stimulus check this year.

Despite high inflation and interest rates, Americans still face financial hardship; nevertheless, it will be up to Congress to adopt laws allowing for greater funding.

Three stimulus checks were given to Americans at the height of the pandemic. The first stimulus check was for $1,200; the next two were for $600 and $1,400. There are no plans to give Americans another stimulus payment at this time.

Will Congress Propose Another Stimulus Check?

The Democratic-controlled Senate will need at least 50 votes to pass another round of government stimulus checks. Given that he just signed the Inflation Reduction Act, President Joe Biden needs to express his support for a second round, which he hasn’t yet done.

The legislative package on climate change aims to reduce household expenses by hundreds of dollars annually in electricity costs and by offering tax credits. No additional stimulus funding is anticipated to be sent by Senate Democrats at this time.

Before it may be sent to the President’s desk for signature, the House must also approve it. Act quickly and continue serving in office. According to polling published by FiveThirtyEight, the Democrats currently have a 71 in 100 chance of maintaining control of the Senate in the autumn 2022 midterm elections.

However, it is estimated that Democrats’ chances of holding onto the House are barely 27 in 100. Since the highest court overruled Roe v. Wade, the case that established the legal right to an abortion, the polling has been swinging in the Democrats’ favor.

Additionally, President Biden declared that he would forgive up to $20,000 of each borrower’s student loan debt. But if the polling data significantly shifts against the Democrats between now and November, that might put even more pressure on policymakers to take action.

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