COVID-19 impacted hundreds of millions of people around the world. With people having to stay at home and losing out on jobs, the personal and national economy in the US has taken a major hit. To provide financial relief to households in the country, the current administration has given out a total of $1.9 trillion to eligible taxpayers. After the third stimulus check, there was a call for a fourth round of the Federal financial relief program. Will there be a fourth check? here is the answer.
Will you receive a fourth stimulus check?
Well, it depends on your eligibility; if you have children who were born in 2021, you may receive a check for $1,400. Single filers with an annual income of $,75,000 are eligible for this fourth stimulus check, which is more a second round of the third check. Also, parents to newborns of 2021 with a combined income (joint filers) of $150,000 or less will also be eligible to receive the “fourth” check.
Also, parents who received monthly child tax credit payments in 2021 will receive money through the American Rescue Plan.
Will there be a fourth check?
Many people have been guessing and wondering whether additional checks will be sent out to eligible US individuals. Wall Street experts say it is unlikely; why exactly? Much like in the days of the financial crisis in the early 1930s, the current administration is focusing on productivity as a means to create jobs.
President Biden has talked about infrastructure expenditure; building new railways, roads, and other investments are producing work and allowing people to bring a paycheck home.
Another reason why a fourth check is unlikely is the inflation caused by the last round of checks. According to financial experts, having extra cash led Americans to spend money on costly products.
Will inflation be reduced? Optimists say that yes, inflation is likely to decline in 2022. Brad McMillan, a chief investment officer of Commonwealth Financial Network predicts that shutting down the federal financial aid program will stabilize the economy.
Local stimulus checks 2022
The global pandemic continues to impact millions of people around the world. While the American economy is slowly but surely recovering, many people still live paycheck to paycheck. State representatives have taken note, and it is likely that several states, if not all, will launch state financial aid programs.
The state of California, for instance, closed 2021 with a surplus of more than $45 billion in its budget. State senator Brian Jones has stated that If each grain of rice is worth $100,000, California’s $45 billion surplus represents tax revenue that has been under-collected by this amount,”.
So, s fourth stimulus check might still be possible, but in a different format.
Stimulus checks gave Americans breathing room in the past two years. A federal stimulus check is not likely, but with states declaring local programs, it is possible that additional aid is in the way. Go to the stimuluscheck.io blog for additional news and keep posted on state and local news in your area.