There have been three stimulus payments from the government since March 2020, which has led many to wonder about the possibility of a fourth stimulus payment. Some legislators in both the Senate and the House have been advocating for a fourth payment, as either a recurring payment or a new one-time check.
Not everyone in Washington agrees, however. How likely is another payment? Read on to find out!
For the moment, a fourth stimulus check isn’t promised. President Joe Biden hasn’t included it in either of his new stimulus plans, nor has he committed to the idea in any public announcements. Instead, Biden’s proposals include other benefits, such as up to $16,000 in tax credits for childcare-related expenses and the new child tax credit, which includes $3,600 annually per child.
There are also those in Washington who believe the money should be spent in other ways. For example, Democratic Rep. Pramila Jayapal said, “People don’t only need relief, they need stability, certainty, and predictability.” This was in reference to the idea of sending out $1000 payments every month while the pandemic is still going on.
“The economy is poised to boom,” said Mitch McConnell, who is the Senate Republican Leader. “I can’t imagine the economy is going to need a fourth round.”
The first stimulus package was the American Rescue Plan, which was approved in March. This extended the child tax credit so that it would run into 2022, along with providing $300 extra in weekly unemployment benefits and $1,400 checks to qualifying taxpayers.
As for the rest of 2021, there are two sequel stimulus bills that are being advocated by the Biden administration. While neither includes a new stimulus check for individuals, the idea of recurring payments or a fourth check has been accepted by some Democratic members of the Senate and the House.
“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,” said a statement from a group of 10 progressive lawmakers that included Sens. Bernie Sanders and Elizabeth Warren.
Not long after, a similar request was made to Biden from another group of 21 Democrats.
While a fourth stimulus payment may not emerge, more money could be going out to Americans in other forms. Some of those methods might include a hike to the minimum wage, the child tax could become permanent, recurring payments may be approved, or federal unemployment payments might be extended beyond September.