A fourth government stimulus check might come in one of two forms: monthly federal payments in small amounts or a one-time payment of up to $2,000. Legislators in Congress have proposed both alternatives as follow-ups to the third round of pandemic relief payments made available by the American Rescue Plan Act of March 2021.
Seven Democrats on the House Ways and Means Committee wrote to President Biden in May, demanding that the administration add a fourth, and possibly a fifth, stimulus check to the American Families Plan, which was released earlier this spring.
However, the White House has not spoken much about a fourth stimulus payment. When questioned about the congressmen pressuring President Biden for extra stimulus checks at a press conference in June, White House Press Secretary Jen Psaki stated the President is obviously open to a range of options. However, that does not imply that a fourth stimulus check will be sent. The President is open to suggestions from the Congress members but, the stimulus checks are not free, she continued.
The American Jobs Plan, President Biden’s $2.25 trillion infrastructure investment program, is the most notable economic attempt in current legislation. That plan does not contain a fourth stimulus check or anything resembling the direct cash that millions of people got during the outbreak. Rather, it is a long-term effort to rescue, restore, and reconstruct the country’s financial situation.
Fourth Stimulus Check Is Unlikely To Pass
Biden’s American Families Plan would mandate up to 12 weeks of paid parental leave and subsidies for childcare. That is not to imply that another sizable stimulus check cannot be included in the next major economic initiative. Although it is widely assumed that a fourth stimulus package is unlikely, many lawmakers and economists initially questioned the need for a second and third stimulus package as well.
The amount of the fourth stimulus check is determined by a number of factors. If it passes, it will most likely seem identical to the prior checks, though this is not guaranteed. For comparison, the first stimulus payment was worth up to $1,200, while the second stimulus check was worth $600 to qualified Americans. The third stimulus check, which the IRS is still distributing, is worth up to $1,400 per individual, though eligibility restrictions are more stringent.
While a fourth stimulus check is not likely to be on the agenda for the time being, the IRS has provided information on plus-up payments and Recovery Rebate Credits, two methods for receiving more funds from the three stimulus bills passed since the COVID-19 outbreak began.