The year 2021 is over. Over the past two years, the federal government in the United States of America launched various relief programs to help those most affected by the COVID-19 pandemic and stimulate the struggling economy in a time of unemployment and high inflation.
The most famous of these initiatives came in the form of economic stimulus checks – aimed at providing citizens and families in the United States of America an extra boost of income, and or tax rebates. This was done to help citizens afford necessities such as food, energy, and child costs.
However, with the current failure of President Joe Biden’s administration to get his Build Back Better Act legislated – stimulus checks, added unemployment benefits and the extended child tax credit may be a thing of the past. However, economists and other important role players in the United States of America are debating both for and against this decision.
Some argue that recurring payments rather than a batch of stimulus checks will last longer and be better used by citizens. This article will, briefly, discuss the various nuances surrounding these topics – and investigate the latest information regarding the hopes, pros, and cons of further stimulus checks. Read on if you are interested.
Motivation For More Stimulus Checks
According to an article on CBS News entitled: “What’s behind the push for a fourth stimulus check” by Aimee Picchi: “The IRS issued more than 169 million payments in the third round of direct stimulus aid, with the $1,400 checks reaching most American households”.
However, some lawmakers and advocates, according to CBS News, are pushing for a fourth stimulus check – despite the failure of President Joe Biden’s administration to get his Build Back Better Act legislated. They believe that the effects of the pandemic are not over, and many American families, citizens, and households might face economic difficulties and crises as a result of the recent outbreak of the Omicron variant.
CBS News makes it clear that over 250 thousand American households could not meet their basic living costs over the last week – leaving one to question – without any real prospect of a 4th stimulus check, are we headed for disaster?
Furthermore, according to Picchi’s article for CBS News, economists are very concerned over the effects that the highly contagious Omicron variant has already had in the United States of America by, for example, leading to the closing of Broadway shows and certain College Campuses.
Those Who Support The Cause
For these reasons, more than 3 million American’s according to CBS News have signed a petition for a recurring $2,000 stimulus check to be issued by the federal government. As the initial stimulus checks were not permanent – more than 30 million citizens of the United States of America might be left struggling this year without further aid.
Critics of such stimulus payments argue that the increase in demand leads to higher inflation and that unemployment is down since last recorded so it is not justified. However, the new idea of recurring stimulus payments is gaining popularity among many advocates as according to CBS News American Senators who wrote to President Biden stated: “Almost 6 in 10 people say the $1,400 payments set to be included in the rescue package will last them less than three months”
Besides this, in December last year, a group of almost 100 thousand senior citizens in the United States of America organized under the Senior Citizens League petitioned for an extra stimulus check of $1,400 to be issued to elderly citizens already hard hit by the pandemic as it would help them afford much-needed necessities like groceries, that is according to CBS News.