2021-2022 Federal Income Tax Rates and Tax Brackets

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Stimulus Checks

You may be wondering if there will be a fourth stimulus. The organisers of a major petition believe the answer is yes. 3 million people have signed a Change.org petition asking for $2,000 per month in stimulus checks according to CNBC . Stephanie Bonin, a Denver restaurant proprietor and petition organiser, is asking for $2,000 per month in stimulus checks for adults, and $1,000 per month for children. Her petition asks for recurring stimulus checks that will be sent every month until the end of the Covid-19 pandemic.

Bonin posted the Change.org petition to get stimulus checks. The recovery has not reached many Americans. The true unemployment rate for low-wage workers in the United States is over 20%. Many people have large debts from last year for things such as utilities, rent, and child care. All of these reasons are why checks should be targeted at people still in need and Congress must learn from the past year. It took Congress nine months to send the second stimulus check and it only took a few minutes to spend it. If certain triggers are met, Congress should make automatic recurring checks.

Fourth stimulus check: $2K a month Stimulus check

In response to the Covid-19 pandemic, Congress issued three stimulus checks to eligible Americans. A fourth stimulus check, like the three previous ones, would be issued by Congress. Although Democrats control Congress, no serious effort has been made to pass legislation to provide $2,000 per month stimulus checks or a fourth check. This petition requests monthly stimulus checks. The previous three stimuli checks were only one-time checks. Why do you need to send regular stimulus checks? The reason for this is that one stimulus check is not enough to assist Americans in financial distress due to the Covid-19 pandemic. Bonin is one example of those in the restaurant industry. Rep. Ilhan Omar (D–MN) and 55 Democrats wrote a letter to President Joe Biden last year to support recurring stimulus checks. However, Biden doesn’t support a fourth stimulus check or recurring stimulus checks. Biden’s current focus is on Congress passing his legislative agenda (the Build Back Better plan), which does not include any stimulus checks.

Will you get a fourth stimulus check?

It’s unlikely that you will receive a fourth stimulus. Similar to student loans cancellation it is difficult for Biden to support additional stimulus checks and to argue that the economy has recovered. Despite the Covid-19 pandemic still raging, high vaccination rates, stock markets recovery, and employment statistics have all improved in the last year. However, millions of Americans are still in financial trouble as a result of the Covid-19 pandemic. These include student loan borrowers who have received more student loan relief. B extended student loan relief for an additional 90 days. ( Students loan borrowers will receive $15 billion in student loan cancellation. It also covers renters who are not eligible for federal rent assistance. ( Stimulus – Rent relief ends in certain states

Because the first three stimulus checks were restricted based on income or other requirements, they weren’t available to everyone. A fourth stimulus check is unlikely to be supported by Congress, much less a $2,000 per month stimulus check. Biden did not support $2,000 per month stimulus checks in his presidential campaign. He is unlikely to support ongoing stimulus checks now. However, Vice President Kamala Harris supported $2,000 per month stimulus checks during the pandemic. ( What Kamala Harris is referring to for student loans

The petition has a goal to collect 4.5 million signatures. Despite all the momentum, Congress and the president don’t seem ready to issue a fourth stimuli check, either one-time, or monthly.

 

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