Could a 4th stimulus check be coming in 2021? What to know about more payments
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The fate of another direct stimulus payment is still to be determined.
Should you be expecting a fourth stimulus check before the end of 2021? Since thein March, the IRS has issued over 165 million and continues to . With this latest round of pandemic aid coming to a close, some members of Congress are pushing for a fourth payment, either as another check or in the form of recurring payments. Others in Washington disagree that any additional relief money is necessary.
As President Joe Biden hasn’t committed to a fourth check, the debate is likely to continue. Some lawmakers are asking that the White House incorporate direct economic payments to struggling families in the , citing broad support by both the public and economic experts. Currently, those plans include other ways people can get benefits or tax breaks, including up to from the or expenses.
By the way, if you received an, that confirms your third check, and you should keep it. We’ll tell you what we know about possible relief during this ongoing economic recovery. Meanwhile, here’s how to and to for the recurring child tax credit payments. This story will continue to be updated.
Could a fourth stimulus check be on the horizon?
Approved in March, thewas the Biden administration’s first stimulus package, which included , and an running into 2022.
The White House has put forward regular stimulus payments (PDF) in his next stimulus package.: the American Families Plan and the American Jobs Plan. Neither proposal calls for a at this stage. However, Democratic members of the House and Senate have thrown their weight behind a fourth stimulus check, including recurring or monthly payments. In late March, a group of 10 progressive lawmakers, including Sens. Elizabeth Warren and Bernie Sanders, asked Biden to include
“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,” the statement said. A few weeks later, a group of 21 Democrats made a similar request to Biden.
The most recent pitch for additional stimulus money came on May 17 from several members of the House Ways and Means Committee (PDF). Remarking on increased poverty and spiraling debt among Americans, their letter noted that “most people spent relief checks on monthly expenses or essentials such as food, utilities, rent, and mortgage payments.”
Could stimulus payments come through other means?
The American Rescue Plan from March contains three types of direct payments to individuals, one of which is the $1,400 stimulus check. It’s possible a future bill could extend or introduce more money through direct payments that go to specific groups of recipients, such as parents who earn below a certain income or people out of work.
The three types of direct payments approved in the American Rescue Plan were:
Stimulus checks: The onetimefor have gone to those . There’s also money going to certain individuals in the form of .
Child tax credit: A temporary expansion of thesends qualifying families up to $3,600 for each child — you can here. These monthly partial payment checks, which begin in July, will last through the end of the year, with a final payment in 2022.
Federal unemployment bonus: A weekly, as well as pandemic unemployment assistance to gig workers and freelancers (the self-employed), was extended to Sept. 6. However, this month nearly two dozen state governments have chosen to , so millions of jobless Americans in those states will be cut off as early as June.
Will there be more financial assistance with the proposed American Families Plan?
As part of the White House’s economic stimulus strategy, thecould include direct money to individuals and families.
If it approves recurring payments: The proposal would be the next likely place for Congress to provide more funding in the form of a fourth, or even fifth, stimulus check.
If it passes a minimum wage hike: Some senators continue to look for ways to Sens. Romney and Kyrsten Sinema have also pitched a hike. Some proponents want to set the bar at a $15 hourly wage, but others are looking to go to $11 an hour. A February report from the Brookings Institute models how a $15 minimum wage could help make 37% of US households financially self-sufficient., which currently stands at $7.25 per hour. In his speech before Congress, Biden called on the legislators to raise the minimum wage to $15.
If it renews federal unemployment payments beyond September: Along with recurring payments, purple triangle pill 100 some lawmakers had originally petitioned for federal unemployment assistance to extend beyond Labor Day this year. However, as dozens of states , many Democratic members of Congress are now expressing skepticism about allowing enhanced unemployment relief to continue past the September expiration date, as reported by Politico earlier this month.
Here’s how to report a, And here’s what we know about the that’ll help you get money with the child tax credit.