Fourth Stimulus Check Possible Timeline
Right now, there is no fourth stimulus check timeline or fourth stimulus check release date. Until legislation is in motion, we can’t say how soon more relief money might arrive. We can’t say whether more relief money is coming, at all.
That said, the third stimulus check timeline happened rather quickly following Biden’s inauguration Jan. 20. It only took a few weeks for Congress to debate his American Rescue Plan. Once the president signed the bill on March 11, $1,400 checks were put in motion.
The IRS can begin sending out possible fourth stimulus checks in the same manner it sent the previous stimulus payments. Since the framework is already in place, Americans could begin receiving the fourth stimulus checks about two weeks after a relief bill allowing another round of direct payments is approved.
The Slim Chance For Another Has Passed As The Economy Has Defiantly Rebounded Despite High Levels Of Covid
While previous waves of the virus, have been associated with a discussion of another round of stimulus checks, a fourth one will not be coming. This comes as many households feel with the effects of historic inflation and the vast majority of economic programs to support households have expired.
There has been no noise out of the Biden administration on the matter for some time as the president’s hopes are pinned upon passing his Build Back Better legislation. That was supposed to include lots of support for families affected by covid-19, but is no closer to being passed than when it was first mooted in March 2021.
Why A Fourth Stimulus Check Looks Unlikely Despite The Omicron Threat
Although the omicron variant threatens to derail the economy, chances of a fourth stimulus payment from the federal government look remote. First, the Biden administration looks more focused on getting Americans protected against COVID-19 with vaccines than distributing free money.
Second, an additional direct relief payment wasnt included in the infrastructure spending package Congress passed in 2021, and there’s no stimulus check provision in the pending Build Back Better bill. Considering the struggle to get that bill passed, the White House might be reluctant to open another battlefront in Congress over a special stimulus package.
If Joe Manchin does not have the guts to stand up to the powerful special interests, he’s going to have to explain that to the people of West Virginia who are hurting and hurting badly.
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Seniors And Fourth Stimulus Check
Seniors were, on the other hand, in for a pleasant stimulus check surprise this year. Fourth stimulus check payments could be deposited automatically into accounts without lawmakers approval. While the build back better bill has a few arrangements for seniors in 2022, there is no fourth improvement check.
There Isn’t A Sign Of A Fourth Stimulus Check
A $1400 check is a vital down payment to help families. But our direct cash assistance shouldnt be limited to just this latest payment. We need recurring payments and to expand the number of Americans who are able to obtain this relief.
Right now, COVID-19 vaccinations are a top priority for the Biden administration. Biden likely views this as a route to economic recovery in itself. As more people get vaccinated, they will be more likely to go out and support businesses. Consumer spending is the backbone of economic movement in the U.S. Consumer spending accounts for as much as 70 percent of the GDP. Most of that stems from the retail and service industries.
There’s also the American Jobs Plan, which is an infrastructure development plan worth $2 trillion. If passed, it could make a world of difference in the unemployment metrics.
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Some Americans Will Be Getting A Fourth Stimulus Check
Despite the fact a fourth check won’t happen for most Americans, some will get another payment in 2022. This can happen if:
- They did not receive their full stimulus payments in 2021. Those who missed out on part or all of their payments could include people whose incomes dropped in 2021 and who became eligible for a stimulus check despite their 2020 income being too high to qualify. Anyone who added a dependent last year may also be owed payments due for that dependent. To get this money, it will be necessary to file a 2021 tax return.
- Their state provides another stimulus check. Some states are using money provided by the federal government for COVID-19 relief to provide payments this year.
Outside of these situations, Americans shouldn’t expect more help from Washington in the form of a fourth stimulus check in 2022 unless the pandemic takes a devastating turn.
Stimulus Check Scams And Hoaxes
Of course, popular demand for widely distributed stimulus payments, and the confusing political maneuvering that goes into crafting stimulus bills, creates an information gap that’s easily exploited by scammers.
Even with the first wave of stimulus checks in 2020, we saw bogus email messages that pretended to be from the IRS, promising “an important update on your Covid relief fund.” But they just took you to phishing sites that wanted your Social Security number and other sensitive bits of information.
Following the second stimulus bill at the beginning of 2021, those email phishing attempts were joined by scam phone calls demanding your personal details so that you could be “cleared” to receive more stimulus checks.
In March, as President Biden’s American Rescue Plan was making its way through Congress, new phishing emails promised the moon: a $4,000 stimulus check, a boost in the minimum wage, free meals and, best of all, priority treatment that let you skip lines at COVID-19 vaccination sites.
Most recently, cruel pranksters have been passing around posts on Facebook that a fourth stimulus check worth $2,500 is coming by the end of July. Don’t believe it, and don’t believe the phishing websites that claim to register you for child-tax-credit advance payments.
In fact, most parents and legal guardians don’t need to do anything to get the payments they’ll just show up in your mailbox or bank account.
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Th Stimulus Checks Given Out To Targeted Groups
Some states are digging into that wad of cash the government gave them and giving out the fourth stimulus checks to specific groups of people. The requirements look different for each state, but all seem to have a few things in commonlike falling into certain income levels or going through some kind of hardship.
The Grand Canyon State has a different take when it comes to stimulus checkstheyre giving them out to people who are going back to work. Arizonas Back to Work Program is offering $2,000 to those who got a job after being on unemployment.3 But you have to hold down your new job for at least eight weeks before getting the benefit.
The Golden State is the only one on the list to give out big ol broad-sweeping stimulus checks that look like the ones the federal government gave out. Heres how their numbers break down: Californians making $75,000 or less were sent a one-time check of $600 or $1,200 as part of the Golden State Stimulus I.4 And with the Golden State Stimulus II, they could be eligible for a second stimulus payment anywhere from $500 to $1,100.5 Thats on top of extra money the state paid out through the Young Child Tax Credit to those who have children age 6 or younger.6
These guys decided to shift their focus to giving their stimulus checks to the unemployed. They sent $375 to folks who had gotten at least one unemployment check payment between March 15, 2020, and October 24, 2020.7
- New Mexico
- New York
As Of Now A Fourth Stimulus Check Is Unlikely
Recently, calls have circulated online for a fourth stimulus check to be approved, with many saying that although the payments have stopped, the pandemic clearly hasnt.
Over three million people have signed a Change.org petition calling for recurring $2,000 payments for adults and $1,000 payments for children until the pandemic ends.
But no such payment has yet been approved, IRS spokesperson Eric Smith told USA TODAY.
This isnt the first time people have posted misinformation about fourth stimulus checks. Similar posts also circulated in May and of 2021.
Analysts have their doubts about whether a fourth stimulus check is likely to be approved.
CBS News wrote on Jan. 31 that the Biden administrations focus on infrastructure to spur economic growth combined with criticisms that the previous stimulus contributed to ongoing inflation have lowered the odds of another cash infusion.
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Is A Fourth Stimulus Check Arriving In 2022
FILE – This May 8, 2008, file photo shows blank checks on an idle press at the Philadelphia Regional Financial Center, which disburses payments on behalf of federal agencies in Philadelphia. AP
As of right now, there are no plans for a fourth stimulus check in 2022. That doesnt mean efforts for additional financial assistance amid the coronavirus pandemic are done.
A petition for U.S. adults and $1,000 for children has been signed by 2.97 million people. If it reaches 3 million signatures, the petition will become one of Change.orgs most-signed petitions.
And while that petition has garnered millions of signatures and widespread attention, it appears unlikely it will move Congress to act. Instead, efforts are underway to extend the expanded Child Tax Credit, a measure passed during Marchs American Rescue Plan. The child tax pays parents up to $300 a month for children ages 5 and younger and $250 per child age 6-17. The remainder of the money up to $1,800 can be claimed when filing 2021 taxes in 2022.
The payments started in July and are set to end in December unless extended by Congress.
The $2.2 trillion Build Back Better bill, passed by the House on Nov. 19 and currently before the U. S. Senate would extend the monthly payments through 2022, short of President Joe Bidens proposal to stretch them into 2025.
That measure faces an uphill battle.
Who will receive stimulus funds in 2022?
Stimulus Blamed For High Inflation
The final round of $1,400 direct payments which started in March 2021 along with the massive amounts of covid-19 relief funds injected into the US economy have been blamed for the higher-than-normal inflation afflicting the nation. The Federal Reserve Bank of San Francisco looked at the effect of the American Rescue Plan specifically on inflation.
It found that Bidens stimulus is temporarily ratcheting up inflation, but not causing overheating as has been suggested. Their analysis found that the ARP, is expected to cause inflation to increase by about 0.3 percentage point in 2021 and by a bit more than 0.2 percentage point in 2022. The impact in 2023 is negligible.
Other factors are helping push up prices on just about everything, a major source has been disruptions to supply chains caused by the pandemic. This caused manufacturers to scramble to secure scarce supplies of inputs to make their products. Americans in turn have been scooping up consumer goods with excess savings they acquired during the lockdown increasing demand on limited supplies.
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A $2000 Stimulus Check Petition Is Close To 3 Million Signatures
A Change.org petition that has collected more than 2.9 million signatures calls on Congress to send out a fourth stimulus check of $2,000 for adults and $1,000 for children on a monthly basis for the remainder of the pandemic. The petition notes that “the recovery hasn’t reached many Americans” and points to the need for immediate checks and recurring payments so that “we can keep our heads above water.” While the Change.org petition is close to becoming one of the most popular on its website, whether it will have any effect is another question.
Will There Be A Fourth Stimulus Check 3 Reasons Why You Might Get Another Federal Payment In 2022
- 9:52 ET, Jan 9 2022
AS the Covid-19 pandemic continues into 2022, many Americans are hoping there will be another federal stimulus payment.
As a result of the coronavirus pandemic, we have seen three stimulus check packages passed on the federal level.
The first stimulus package included $1,200 in direct payments, and the next one sent $600 to Americans.
Although a fourth stimulus package seems unlikely given the rapid rebound in the economy and inflation, we list a few reasons why another might happen.
Fourth Stimulus Check Approval: Here’s What It’ll Take
The White House hasn’t responded to any of the proposals for additional stimulus checks, and the general sentiment is that a fourth stimulus check isn’t likely. Economists have suggested we’ve already moved past the pandemic’s worst financial woes, although there are signs that Americans could still use relief.
Experts certainly seem in agreement that there won’t be a fourth stimulus check. The latest stimulus package, the American Rescue Plan, is “gonna be the last on that front,” Deutsche Bank senior U.S. economist Brett Ryan told Fortune. “No more checks.”
Ed Mills, Washington policy analyst at Raymond James, agreed, telling CNBC recently “I think its unlikely at this time. D.C. has largely started to pivot towards the recovery and an infrastructure bill.”
Many economists and financial experts are worried that the third stimulus checks have contributed to a growing inflation rate. In June 2021, the core inflation rate, stripped of energy and food prices, rose 4.5% at an annual rate vs. the Dow Jones estimate of 3.8%. The overall consumer price index rose at an annualized 5.4% rate in June.
Fourth Stimulus Check & Social Security Recipients
Stimulus checks have been an asset to millions of Americans since the start of the pandemic, but seniors have been hit the hardest and are looking for a fourth stimulus check.
There have been three stimulus checks so far, with two in 2020 and one in 2021.
This has Americans asking if, and when, there will be a fourth stimulus check.
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The Stimulus Checks Are Also Called The Economic Impact Payment And Gave A Payment Of $1400 To Each Individual Who Met The Income Criteria To Be Considered Eligible
Meanwhile, newsweek reported that a small wealth tax would raise enough money to send out two more $1,400 stimulus checks for americans. Citizens of the united states may be entitled to receive a $1,400 stimulus check payment in the early part of the new year, and well lay out the requirements in this report. However, there are still a number of requirements that must be met.
A Fourth Stimulus Check Is Unlikely
All of the tacit and explicit support for stimulus checks keeps the possibility alive. The support doesnt make a fourth payment likely, however. And there are many reasons why.
Vaccinations are progressing steadily, albeit not as quickly as in the spring. Adults and those at least 12 years old were already eligible to be inoculated in all 50 states. Emergency approval of the Pfizer vaccine for children ages 5-11 happened in early November. Three different options are available to the public, depending on ones age, with the Pfizer vaccine fully approved by the FDA. Booster shots of the Pfizer vaccine have also been approved and rolled out for adults. Actually putting needles in arms is taking time, even with supply readily available. Americans have received over 462 million doses, with 70.4 percent of the population having received at least one dose and 59.4 percent completely vaccinated. Vaccination numbers continue to increase at a rate of about one million doses per day, with booster shots and shots for children accounting for much of the recent increase.
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Pandemic Politics Could Prevent Another Payment
Right now, any speculation on a fourth stimulus check is just that: speculation, says Columbia Business School professor R.A. Farrokhnia. But there are several trends we can examine to predict how the debate might unfold.
With the first stimulus check, which was passed as part of the CARES Act, there was urgency. Last spring, the nation didnt quite know what it was dealing with yet just that people needed financial assistance ASAP.
When youre in such a scenario, there is less of a concern for partisanship, says Farrokhnia, who is also executive director of the Columbia Fintech Initiative. With each round, the conversation became a little more heated, a little more philosophical, within the political establishment.
Hes right: Nancy Pelosi and Mitch McConnell foughta lot last year, with the latter calling stimulus checks socialism for rich people. Any suggestion of a fourth check would probably spark similar conversations. The debate would likely be dramatic and drawn-out.
In addition, given the fact that last time not even all Democrats were on board with the proposal, the legislation would have to be extremely targeted to make it through Congress. Lawmakers would make a concerted effort to avoid paying people who dont actually need help. Farrokhnia says this means there could be more resistance to blank-check a fourth direct payment.
A Fourth Stimulus Check Is Possible
For most Americans, it is extremely unlikely a fourth stimulus check will be provided. Here are a few key reasons why:
For all of these reasons, another check is unlikely to happen unless conditions take a dramatic turn for the worse — such as another COVID-19 variant that is vaccine resistant, easily transmitted, and more deadly.
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