Are Americans any closer to getting a fourth stimulus check as the coronavirus pandemic continues?
Around 2 million people didn’t receive the third stimulus check that was approved in the American Rescue Plan until July. To date, there has been $3,200 sent out by the IRS to hundreds of millions of Americans. All of those plans had income requirements, with individuals needing to make less than $75,000 per year to qualify.
Even when additional stimulus checks were discussed favorably among moderates or conservatives, they wanted to see the payments be more targeted.
However, a new Census survey from July showed that 25% of Americans struggled to pay their household expenses. The survey data was collected from late-July to early-August.
Across the U.S. 14.6 million people are receiving jobless assistance. Unemployment rate sits at 5.4% across the country, with that rate about one percentage point higher in New York.
Here’s the reality: Even if lawmakers suddenly got on the same page with another round of stimulus payments – it’s unlikely that they would be pushed out the door by early- or mid-fall. Some have forecasted that they could push to the winter months, if COVID cases continue to rise.
The unknown variable is also how much that check would be worth: Depending on who is included in that would-be round of stimulus spending, it could shape what its total value becomes. Some had pushed for a $40,000 income limit on the last round of payments, which would mean that the stimulus check value would be less.
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