Quite a few representatives in Congress are pushing forth a fourth and a possible fifth stimulus check for the citizens of the country. In another letter sent to the President, seven other representatives of the Way and Means Committee have got together with the other members of Congress for yet another stimulus payment.
A Fourth Stimulus Check On The Cards?
The letter claims that the checks delivered by the American Rescue Plan will be able to take care of around 11 million people, with other provisions involving unemployment insurance expansion accounting for yet another five million citizens. The legislators claimed that another stimulus check would really seal the deal- lifting 12 million people out of impoverishment.
The Committee mentioned that if the new bill of Joe Biden got added to the new stimulus copayment, they would be able to reduce the number of impoverished people from 44 million to 16 million. To further push their agenda, the legislators stated that another stimulus check will not only alleviate the poverty ratio in the country, it would also work as an economic stimulus that will increase the number of jobs available to the general public.
Yet, as far as Boston Herald reports, the argument about jobs might hinder the issue of another stimulus check. The IRS has published several records which claim that almost 1.24 million checks haven’t been spent since the first bailout of this coronavirus. According to the report, the unspent checks aren’t the ones with lingering bank accounts. Rather, these are from people who haven’t accepted the payment- or refused to cash the payment that they received from the CARES Act that was passed on the 27th of March, 2020.
Regarding Stimulus Check spending, the Boston newspaper has noted that the data from the IRS highlights California to be the state with the largest number of stimulus checks left unspent. Some of the payment has also been left unspent in Florida and Texas.