Support For A Fourth Stimulus Check
A group of Democratic Senators, including Ron Wyden of Oregon, Elizabeth Warren of Massachusetts and Bernie Sanders of Vermont, sent a letter to President Joe Biden at the end of March requesting recurring direct payments and automatic unemployment insurance extensions tied to economic conditions.
As the Senators reasoned in their letter, this crisis is far from over, and families deserve certainty that they can put food on the table and keep a roof over their heads. Families should not be at the mercy of constantly-shifting legislative timelines and ad hoc solutions.
An earlier letter to President Biden and Vice President Kamala Harris from 53 Representatives, led by Ilhan Omar of Minnesota, carved out a similar position. Recurring direct payments until the economy recovers will help ensure that people can meet their basic needs, provide racially equitable solutions, and shorten the length of the recession.
Additional co-signers included New Yorks Alexandria Ocasio-Cortez and Michigans Rashida Tlaib, two other notable names among House Progressives. The letter didnt place a number on the requested stimulus payments. But a tweet soon after put it at $2,000 per month for the length of the pandemic.
$2,000 monthly payments until the pandemic is over.
Here Are The Income Limits For Checks
A person’s income is the chief determinant of whether they’ll get a check, as well as the payment amount.
The payments will amount to $1,400 for a single person or $2,800 for a married couple filing jointly. Only individuals earning up to $75,000 would get the full payments, as would married couples with incomes up to $150,000. Payments would decline for incomes above those thresholds.
The bill cuts off single people with incomes over $80,000 and married couples earning more than $160,000. Under the first stimulus check, the cut-offs were higher, at $100,000 for individuals and $200,000 for married couples.
Some lawmakers argued the checks should be targeted to lower-income families, citing research that shows that higher-income families are rebounding from the pandemic’s economic impact. But other research signals widespread financial pain throughout the nation, with the ranks of adults experiencing financial hardship little changed from December, according to Morning Consult economist John Leer.
A third round of $1,400 checks would allow nearly 23 million adults to pay their expenses for more than four months without going into more debt or eating into their savings, his analysis found.
“That third stimulus check is absolutely vital,” Credit Karma Chief People Officer Colleen McCreary told CBS MoneyWatch. “I don’t see a world where people will have their financial footing without some additional stimulus money.”
Stimulus Check Scams And Hoaxes
Of course, popular demand for widely distributed stimulus payments, and the confusing political maneuvering that goes into crafting stimulus bills, creates an information gap that’s easily exploited by scammers.
Even with the first wave of stimulus checks in 2020, we saw bogus email messages that pretended to be from the IRS, promising “an important update on your Covid relief fund.” But they just took you to phishing sites that wanted your Social Security number and other sensitive bits of information.
Following the second stimulus bill at the beginning of 2021, those email phishing attempts were joined by scam phone calls demanding your personal details so that you could be “cleared” to receive more stimulus checks.
In March, as President Biden’s American Rescue Plan was making its way through Congress, new phishing emails promised the moon: a $4,000 stimulus check, a boost in the minimum wage, free meals and, best of all, priority treatment that let you skip lines at COVID-19 vaccination sites.
Most recently, cruel pranksters have been passing around posts on Facebook that a fourth stimulus check worth $2,500 is coming by the end of July. Don’t believe it, and don’t believe the phishing websites that claim to register you for child-tax-credit advance payments.
In fact, most parents and legal guardians don’t need to do anything to get the payments they’ll just show up in your mailbox or bank account.
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Will Every State Be Giving These Checks
Every State will be receiving a Federal budget to administrate these funds, but it will solely depend on each State’s Administration to decide how to spend these funds and which different benefits will be part of this plan.
Although most states are likely to follow through on this initiative, the format in which it will be distributed will vary between each one, therefore it is important to check on your local authorities’ official websites to find out exactly what is needed to receive this payment.
Third Stimulus Bill: The American Rescue Plan Is Signed Into Law
Joe Bidens stimulus bill and $1,400 checks are on their way. Heres the latest news.
As America nears one year since Covid-19 pandemic-related shutdowns began, a third wave of stimulus support is on its way. The American Rescue Plan, an ambitious $1.9 trillion Covid-19 relief package first unveiled by President Biden in January 2020, has now officially been signed into law and is sure to be a centerpiece of Bidens first 100 days.
Whats in the stimulus bill? The package includes a third stimulus check for $1,400, expanded and extended unemployment insurance, and billions for schools, public health, and state and local government aid. And thats not all.
Some 280 million people will be eligible for the third round of stimulus checks, according to the Institute on Taxation and Economic Policy, and unlike previous direct payments, all dependents including college students and some people with disabilities, not just children under 17 will be eligible. Heres how to check if you qualify for a third stimulus payment.
Between those checks, a child allowance program to help parents, an expansion of zero-premium health care coverage to low-income Americans, housing aid, and other aspects, its one of the most ambitious anti-poverty bills in decades.
Read more for the latest news and updates on the package:
Millions of Americans could gain health coverage under the Democrats stimulus bill.
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Fourth Stimulus Check: Are More Payments Coming
A fourth stimulus check from the government could take one of two forms: monthly checks in fairly small amounts, or one-time payments of up to $2,000.
Both options have been put forward by legislators in Congress as follow-ups to the third round of pandemic relief payments, which were made possible by the American Rescue Plan Act of March 2021.
The federal moratorium on evictions ended Aug. 26 with a Supreme Court ruling, and millions now face losing their homes. Inflation, however, appears to be on the rise, contributing to fears among economists and lawmakers that further stimulus payments could only fuel more price hikes.
As a result, there’s no legislation in Congress that’s likely to pass that would create a fourth round of stimulus payments, even though some Democratic lawmakers have called on President Joe Biden to consider recurring payments.
The White House has passed back the buck, stating that the president would consider whatever Congress comes up with.
At the end of July, Rep. Ilhan Omar , introduced a bill that would send $1,200 to each American making less than $75,000 per year, forever. But it has not moved forward in the House of Representatives and has little chance of passing.
How The Third Stimulus Check Became Law
The American Rescue Plan was signed into law on March 11, authorizing a third round of stimulus checks that pay a maximum of $1,400 for millions of Americans. Targeted income limits, however, exclude individuals earning over $80,000 and joint tax filers making more than $160,000.
Biden said at the signing of the bill: this historic legislation is about rebuilding the backbone of this country and giving people in this nation working people and middle-class folks, the people who built the country a fighting chance. Thats what the essence of it is.
House Democrats had moved the $1.9 trillion COVID-19 relief bill to Bidens desk with a 220-211 vote just one day earlier. But progressives in the party expressed concern over Senate amendments that excluded higher-earning taxpayers from getting a stimulus payment.
Biden agreed to narrow income level requirements as a concession to moderate Senate Democrats who wanted to cap payments for individual taxpayers at $80,000 and joint tax filers at $160,000.
The Senate bill narrowly passed with a 50-49 vote on March 6 after an overnight marathon of disputed amendments and negotiations. A 50-50 tie between both parties was avoided because Senator Dan Sullivan could not vote after returning to Alaska for a family funeral.
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Fourth Stimulus Check Update: Payments Coming In 2022 What To Expect
A new year and another new variant driving up COVID-19 infections are upon us, and with the pandemic seemingly nowhere near its end right now, many Americans are understandably concerned and worried about what it means for their future. As they face growing inflation and fears of new shutdowns, the call for stimulus aid has continued to grow.
The federal government has not signaled plans to send out any additional stimulus checks in 2022, but there will be some aid that could still happen to ease the burden families may be facing. Heres a look at every form of stimulus aid that is on tap for the new year.
Child Tax Credit
Unfortunately, the Expanded Child Tax Credit that many parents looked forward to on a monthly basis from July-December 2021 is not currently expected to happen in 2022. While a one-year extension of the credit, which saw advanced payments of $300/month for children under age 6 and $250/month for children age 6-17, was a part of President Joe Bidens proposed Build Back Better Plan, the reconciliation bill was squashed in the Senate after Senator Joe Manchin , stated he would not vote with his party to approve the legislation.
They will definitively receive the other half of the credits when they file their 2021 tax returns.
Economic Impact Statement
Experts have also warned that Americans shouldn’t expect another check because the inflation woes they are facing now can also be directly tied to the stimulus checks they already received.
Stimulus Checks: Complete Timeline Of The First Economic Impact Payment
As the outcry for a second stimulus check grows louder for millions of Americans, many are looking now back on the timeline of the first round for an idea of how much longer they might be waiting. In March, the U.S. passed a historic stimulus package, which included direct payments to individual taxpayers. It was the largest stimulus package ever passed, yet many people are already in dire need of more.
The stimulus check most Americans received this spring was included in the CARES Act the Coronavirus Aid, Relief and Economic Security Act. The U.S. Congress passed the bill in March and directed the Treasury Department to send the money out to Americans via the IRS, using the payment information included in the most recent round of taxes. This is one area where a second stimulus check would theoretically come much fast the IRS now has up-to-date payment information for most Americans. Still, there is a lot to consider with an operation of this size.
The CARES Act was not the U.S. government’s first bill responding to the coronavirus pandemic, and it was never really expected to be the last. As the timeline for this crisis extends, so does the planning for relief measures including more stimulus. Congress was ahead of schedule in this regard, passing the HEROES Act in mid-May, which could lead to another round of stimulus checks.
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How Soon The $1400 Payments Could Go Out
Biden said this week that the stimulus checks should start to go out to millions of Americans this month.
That’s in line with experts’ expectations.
Those who will be first in line to get the money will be those who have their direct deposit bank account information already on file with the IRS.
Those people could receive their money within two weeks of the legislation getting finalized.
Other mailed debit card and paper check payments would likely arrive later, potentially into April and May.
Still Living Paycheck To Paycheck
Some top economists have called for more direct aid to Americans. More than 150 economists, including former Obama administration economist Jason Furman, signed a letter last year that argued for “recurring direct stimulus payments, lasting until the economy recovers.”
Although the economy is improving, millions of people continue to suffer from reduced income and have not been able to tap government aid programs, Nasif said. Only 4 in 10 jobless workers actually received unemployment aid, according to a from economist Eliza Forsythe.
Many people never applied for unemployment benefits because they didn’t think they were eligible, while others may have given up due to long waits and other issues.
“You’ll see reports about how the economy is starting to grow, but there are a lot of Americans living paycheck to paycheck, and for a lot of them the government relief programs haven’t been able to help,” said Greg Nasif, political director of Humanity Forward.
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Who’s Shut Out In The Final Bill
People who file their tax return using the “single” filing status with an adjusted gross income between $80,000 and $100,000 “head-of-household” filers with an AGI between $120,000 and $150,000 and married couples filing a “joint” return with an AGI between $160,000 and $200,000 won’t get a third stimulus check. These people would have gotten a reduced payment under the original bill, but they won’t get any money under the final bill sent to the president.
Under both versions of the bill, singles with an AGI above $100,000, head-of-household filers with an AGI exceeding $150,000, and joint filers with an AGI over $200,000 wouldn’t receive any third-round stimulus payments. For more on who will or won’t get a third stimulus check under the final bill, see Who Won’t Get a Third Stimulus Check Under the New Senate Plan?
To calculate the amount of YOUR third stimulus check , use our handy Third Stimulus Check Calculator. All you have to do is answer three easy questions to get an estimated payment amount.
A Fourth Stimulus Check Is Unlikely
All of the tacit and explicit support for stimulus checks keeps the possibility alive. The support doesnt make a fourth payment likely, however. And there are many reasons why.
Vaccinations are progressing steadily, albeit not as quickly as in the spring. Adults and those at least 12 years old were already eligible to be inoculated in all 50 states. Emergency approval of the Pfizer vaccine for children ages 5-11 happened in early November. Three different options are available to the public, depending on ones age, with the Pfizer vaccine fully approved by the FDA. Booster shots of the Pfizer vaccine have also been approved and rolled out for adults. Actually putting needles in arms is taking time, even with supply readily available. Americans have received over 462 million doses, with 70.4 percent of the population having received at least one dose and 59.4 percent completely vaccinated. Vaccination numbers continue to increase at a rate of about one million doses per day, with booster shots and shots for children accounting for much of the recent increase.
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Are $2000 Monthly Stimulus Checks Possible
In response to President Biden’s American Jobs Plan proposal, a group of 21 senators on March 30 sent a letter urging the inclusion of stimulus checks in the legislation. The group called for recurring payments as long as the pandemic lockdown continued, meaning people would get monthly checks from the government. No amount for the payments was specified.
We urge you to include recurring direct payments and automatic unemployment insurance extensions tied to economic conditions in your Build Back Better long-term economic plan, wrote the group, which consisted of Sen. Elizabeth Warren, D-Massachusetts, Sen. Bernie Sanders, I-Vermont, and others.
An earlier stimulus check proposal, put forward during the early days of the American Rescue Plan in late January, also suggested monthly payments until the pandemic is over, but did not mention an amount. However, Rep. Ilhan Omar, D-Minnesota, tweeted earlier in January that she wanted to see $2,000 per month.
If that amount sounds familiar, it’s because now-Vice President Kamala Harris threw her support behind $2,000 recurring checks during the negotiations for the second stimulus check legislation in the summer of 2020.
The proposal has also gained plenty of support outside of Congress: Six online petitions calling for $2,000 monthly stimulus checks until the end of the pandemic have been posted. The biggest petition, on Change.org, has been signed by more than 2.8 million people and has a stated goal of reaching 3 million.
When Is The Bill Going To Pass
The Senate is expected to begin working out plans for the bill by the end of the first week of March, including negotiations over certain language and stipulations.
But Democrats are urging for the bill to be passed before March 14, which is when certain weekly unemployment aid is set to expire. The new relief package would increase those weekly benefits from $300 to $400 and extend payments through September, in the hopes of preventing a lapse in aid.
Democrats are using a process called budget reconciliation to pass the legislation. It’s a fancy term that means they would only a simple majority in the Senate for approval instead of the usual 60 votes required to overcome a potential filibuster.
The Verify team explained the whole process and how it might allow Democrats to pass the COVID-19 relief on their own, even though Senate conversations might derail and lengthen the process, here.
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