Lawmakers tell Biden recurring stimulus checks should be carried out until the coronavirus crisis is over
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If all goes according to plan, Americans could see more stimulus money hit their Bank accounts from mid-March. The reason? Lawmakers are accelerating a $ 1.9 trillion coronavirus relief bill. A vote is expected to take place soon in the Senate, and lawmakers hope the bill will be enacted by March 14. The reason for this deadline is that it is reinforced. unemployment benefits will be exhausted for millions of workers who are currently unemployed.
Of course, a $ 1,400 stimulus check could go a long way for struggling Americans – especially those who are out of work or struggling to keep up. loss of income since the start of the coronavirus epidemic. But now some lawmakers are saying that one stimulus payment of $ 1,400 is not enough. Rather, they are calling on President Joe Biden to send recurring stimulus checks until the pandemic is over.
Could Americans be in line for continued relief?
The $ 1,400 stimulus checks that are part of the new relief bill are the most generous to date. The first set of checks, which were issued under the CARES Act, was worth $ 1,200, while the second put $ 600 in the pockets of Americans.
But a group of Democratic lawmakers are now urging the president to implement a system in which recurring stimulus checks are sent until the coronavirus crisis is behind us rather than sending one-off payments that must be voted on. every time. The purpose of sending recurring payments would be to provide additional coronavirus resources for households in difficulty, while continuously injecting money into the economy to accelerate its broad recovery.
This isn’t the first time lawmakers have come up with the idea of recurring stimulus payments. In January, more than 50 House members called on the Biden administration to back a proposal for monthly $ 2,000 stimulus checks until the pandemic is over. This time around, lawmakers did not specify how much recurring stimulus checks should be worth. On the contrary, they stressed the importance of providing people in need with consistent payments.
Of course, on the other end of the spectrum, there are lawmakers who feel the next $ 1,400 stimulus round is too generous. And many have expressed concern that upcoming payments do not sufficiently target the most needy in the country.
As it stands, people earning up to $ 75,000 and married couples earning up to $ 150,000 will be eligible for a full stimulus of $ 1,400. However, these payments will have a hard limit once income reaches $ 100,000 for individuals and $ 200,000 for couples. In previous stimulus cycles, these thresholds were higher, so implementing these thresholds is actually kind of a compromise. But given the number of lawmakers who have already opposed the next round of stimulus, recurring stimulus checks could end up being a tough sell.
Will there be a fourth stimulus check?
At this point, a third dunning check technically is unofficial. It is therefore a bit early to consider a fourth round of stimulus. And also, it is far too early to know if we can expect one. Much will depend on how things develop with the economy over the next few months, and it will largely depend on how quickly the coronavirus vaccines are rolled out. Chances are, the next $ 1,400 stimulus round will be the last one associated with the pandemic, but if it does, that’s not necessarily a bad thing, as it could be the result of a recovery. economic faster than expected.
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