A possible fourth incentive payment can take many forms, including recurring payments. A Change.org petition calling on Congress to approve monthly payments of $ 2,000 has more than 2 million signatures, with a goal of 3 million. And in March, a group of 10 forward-thinking lawmakers, including Sens. Elizabeth Warren and Bernie Sanders, Biden to Include Regular Incentive Payments (PDF) in his next Incentive Bill: “We recommend that you include recurring instant payments and automatic unemployment insurance renewals. Linked to Economic Conditions in Your Build Back Better Economic long-term plan. ”A few weeks later, another group of 21 Democrats made a similar request to Biden.
While the third stimulus check will help the economy grow rapidly, it will also grow unevenly, according to economists, with some cities expected to hurt ‘decades’, althoughare on the rise and the US economy gives a glimmer of hope. Would there be more direct payments? other than a stimulus check? Below we explain a few options. Moreover, here and . Here’s how too . This story is regularly updated.
Biden unveiled his next two incentive packages. Would they include a fourth stimulus check?
Approved in March, theis Biden’s first stimulus package in 2021, with , and an extensive drawn up. ( for the The Biden administration is working on the sequels, which the president refers to as the Build Back Better plan. That proposal, called the American Jobs Plan, aims to invest in the country’s energy grid, , and water systems – and despite the insistence of progressive senators (PDF).
(Note: There is some debate as to what counts as an ‘relief’, ‘rescue’ or ‘incentive package’. For the purposes of this article, ‘incentive’ refers to any funding, control or measure in response to the coronavirus pandemic or to injecting money into the US economy.)
The following stimulation proposal may look different from the previous one
The American rescue plan. It contains three types of payments designed to help people and families in difficulty. It’s possible that a future account could expand or introduce more money through direct checks that go to specific groups of recipients, including parents earning below a certain income or those out of work.
These are the three types of direct payments approved in the March 2021 bill:
Stimulus Controls: The new one-offsend until to those .
Child tax credit: An extension of thesends eligible families $ 3,600 for each child under 6 and $ 3,000 for children 6 or older, in .
Federal unemployment premium: A monthlyships until September 6 for up to $ 300 per month, in addition to state benefits for unemployed workers.
Congress could send more payments in four other ways this year
The third part of Biden’s economic stimulus strategy – called the American Family Plan – could be for more money to go directly to individuals and families.
Accept recurring paymentsBiden’s third proposal is the next likely place for Congress to provide more funding. This is where Democratic Senators are calling on Biden to push for recurring fourth stimulus checks during the pandemic.
Pass a minimum wage hike: Some senators keep looking for ways to do that, which currently stands at $ 7.25 per hour. In his speech to Congress, Biden called on lawmakers to raise the minimum wage to $ 15. Sens. Mitt Romney and Kyrsten Sinema also went for a walk. Some advocates want to raise the bar on $ 15 hourly wages, but others want $ 11 an hour. “If a senator believes this is the last time they will vote on whether or not to give a raise to 32 million Americans, they are seriously mistaken,” Sanders tweeted on March 5. A February report from the Brookings Institute shows how a $ 15 minimum wage could make 37% of American households financially self-sufficient.
Make the child discount permanent: Money from the comprehensivebegins in July and sends periodic payments to lower and middle income families with children. In his speech to Congress, Biden called upon the House and Senate . Others, including Romney, also support making the credit permanent as it will lift millions of children out of poverty.
Renew federal unemployment benefits after SeptemberIn addition to recurring payments, the 10 progressive senators in their letter to Biden asked for federal unemployment benefits to be extended beyond September as well.
Be here, how much money you can expect and how .