Stimulus Checks were specifically meant for citizens to fix their financial status during the pandemic. People who lost their jobs at that time were helped by the government, with three types of stimulus checks. The checks were typically meant for the lower-income class.
Final Decision Regarding Stimulus Checks
Inflation rising and millions of people are struggling to meet ends, according to a study there are three reasons for inflation, that could be causing difficulty. This general inflation is caused by many things, the world’s economy is falling apart since the pandemic. Now there are more receivers and fewer taxpayers.
There is more demand for checks than economic growth. As the experts say states aren’t printing currency, they are just the distributors. However, some states have taken the matter into their own hands and supplying stimulus checks as income tax rebates and middle-class tax refunds.
With these checks the states are handing out, there has to be a give-and-take policy. States don’t have accountability over ‘funds’, they are tied to rules and regulations, if one receives money from the federal government that individual needs to show eligibility. The states aren’t able to create money or a new set of rules to supply checks or new eligibility criteria whatsoever.
Economic growth has stopped due to stock market losses in recent years. The stimulus checks distribution started during Trump’s presidency and continues, no one knows how long it will continue. The current President hasn’t stopped. But with inflation rising and demand for stimulus checks increasing every day. Some states are cutting gas taxes to pay households, but this is also shown that this isn’t causing any kind of inflation trouble in the country. There is a higher possibility of no further stimulus checks.