Many people in the United States were shocked to find that they will not receive a fourth stimulus check in their bank accounts by the end of the year 2021. Is a new year, on the other hand, going to offer a new windfall?
Currently, there is no sign that Congress plans to pass a new stimulus bill. Even so, it isn’t a bad idea to have an open mind. Here are several reasons why another stimulus payment may or may not be available in the future.
Is It Possible That a Fourth Stimulus Check Is Needed?
The highly transmissible omicron variant is expected to lead to 19 new cases in 2022. Experts predict that the number of cases will be on the decline by the end of January. It’s possible that we might face months of upheaval if the pandemic does not stop.
Layoffs may be the outcome of businesses being forced to shut down because of this situation. A second stimulus payment may be justified if the economy continues to deteriorate.
What Are the Chances of a Fourth Stimulus Check Not Happening?
According to current trends in health care, education, and supply, the United States is currently dealing with a major outbreak of COVID-19. As omicron is expected to induce a lesser disease than its predecessors, it should be less disruptive to the population.
People who have been diagnosed with COVID-19 will now be quarantined for less time, according to new guidelines from the Centers for Disease Control and Prevention (CDC). It’s conceivable that this may lead to fewer disruptions and closures in the workplace.
Economically, this would be a good thing. In addition, the economy is showing signs of improvement. It was the lowest level since the epidemic began that the national jobless rate plummeted to 3.9% in December. There are now a lot of available positions in the labour market, which means that many businesses are raising their wages to compete for talent. This is a different scenario from the one presented in March 2021, when the most recent stimulus check was authorised.
Legislators will not compel mass shutdowns to combat the current COVID-19 outbreak, as was the case earlier in the disease’s spread. To avoid a massive round of layoffs, this may be enough.
Stimulus Money Runs Out, What to Do?
As inflation rises and everything becomes more expensive, the thought of not receiving another stimulus check may be discouraging. There are still ways to boost your income, however.
The first step is to look at salary information to see if your present income is reasonable. If not, you have two choices: fight for a raise or put your resume back together and start looking for a new job again. Alternatively, if you’re looking for extra money, the gig economy is still growing, so you can pick up a side job.
Setting a stricter budget for yourself may help if you’re having problems making ends meet. If the cost of living continues to rise, this may need temporary budget cuts.
Another round of stimulus is possible in the event that the economy continues to deteriorate. However, this is a situation that no one wants to find themselves in.
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