This is what the federal government in the United States has been doing to help people who have been hit hard by the COVID-19 pandemic and to help the economy grow in a time of unemployment and high prices.
Economic stimulus checks were the most well-known of these initiatives. They were meant to help people and families in the United States of America get a little extra money or get back some of their taxes. This was done to help people pay for things like food, energy, and child care.
However, because President Joe Biden’s administration hasn’t been able to get his Build Back Better Act passed, stimulus checks, extra unemployment benefits, and the extended child tax credit may not be around any more, even though they may still be around. People in the United States of America, like economists and other important people, are arguing both for and against this move.
Some say that people will use stimulus checks for a longer time if they are paid on a regular basis instead of in a big lump sum at once. This article will briefly talk about some of the different aspects of these topics. It will also look into the most recent information about the hopes, benefits, and drawbacks of more stimulus checks. Is this something you’d like to read?
The Reason for More Stimulus Checks!
In a CBS News article called “What’s behind the push for a fourth stimulus check,” Aimee Picchi says that the IRS gave out more than 169 million direct stimulus aid checks in the third round, with the $1,400 checks reaching most American households.
Even though President Joe Biden’s administration didn’t get his Build Back Better Act passed, some lawmakers and advocates want a fourth stimulus check, CBS News says. They think that the pandemic isn’t over, and that many American families, citizens, and households may have to deal with economic problems and crises because of the recent outbreak of the Omicron variant of the virus. This is what they say:
If there’s no chance of a fourth stimulus check, are we on the way out? CBS News makes it clear that more than 250,000 American households couldn’t pay for basic living costs over the last week.
As Picchi wrote for CBS News, economists are very worried about the effects that Omicron has already had in the United States of America, like closing Broadway shows and some College Campuses, because it is very contagious.
Those Who Help the Cause!
According to CBS News, more than 3 million people in the United States have signed a petition for a recurring $2,000 stimulus check from the government. As the first stimulus checks were not long-term, more than 30 million people in the United States of America may not get any more help this year.
Critics say that the rise in demand leads to higher prices and that unemployment has dropped since the last report, so the stimulus payments aren’t needed. “However, the new idea of recurring stimulus payments is getting a lot of support from many people,” says CBS News. “Almost 6 in 10 people say the $1,400 payments set to be included in the rescue package will last them less than three months.”
CBS News says that in December last year, a group of almost 100 thousand senior citizens in the United States of America called the Senior Citizens League asked the government to give them an extra stimulus check of $1,400 because it would help them buy things like groceries.