Stimulus checks have been a lifeline for Americans, whether federal or state. They helped when people lost jobs due to the pandemic, and as jobs fail to pay enough for families to afford groceries. Will there be a fourth stimulus check? Payments continuing in 2023 are likely to end.
Stimulus checks are probably a thing of the past, especially until after the election. If things don’t improve within the economy, the new Congress has the power to provide a check after being sworn in, according to The Motley Fool. Despite this, many states aren’t finished issuing their own version of checks or tax rebates.
Major Factors To Keep In Mind Regarding The Idea Of A Fourth Stimulus Check
First, checks from the federal government aren’t likely to be sent again before the next election. If they’re to be sent, it’s likely going to happen after. The last stimulus check only went out under special circumstances. It was passed through the American Rescue Act, and that was only passed with party line votes through reconciliation. This can’t happen again and not enough members of Congress support passing a fourth stimulus check.
In order for another one to pass, the economy needs to get worse than it already is. Americans already struggle to afford food and gas, so wanting it to stay this way for a sum of money doesn’t make much sense. There are also no COVID-19 lockdowns happening at the moment, meaning people are more likely to spend their money and over inflate the economy.
Should a fourth stimulus check go out, parents are more likely to receive a payment compared to everyone else. This is because there’s more support for the child tax credit than there is for another broad stimulus check. The credits were boosted to record highs for each child claimed before reverting back to the previous amount for every child claimed. Republicans have suggested their own plans for helping parents with children down the line.