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4th stimulus check? How you could see more money coming in in 2021



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Is Congress looking at a fourth stimulus check? There is a chance.

Sarah Tew / CNET

With President Joe Biden revealing his plans for the next two stimulation proposals – the American Jobs Plan and American Family Plan – in a speech to Congress this week, we have a much better idea of ​​how he plans to be on the American rescue planThat first $ 1.9 trillion package already has sent 163 million stimulus payments to Eligible Persons and Families for maximum $ 1,400 each. It also includes “plus-up paymentsFor those for whom the IRS has underestimated payments. Congressmen are already urging Biden to include a fourth incentive check in his plans to send more money to those most in need. A possible fourth payment could also take other forms. , such as recurring payments.

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: on the economic terms in your Build Back Better long-term economic 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’, although Vaccination rates for COVID-19 are on the rise and the US economy gives a glimmer of hope. Would there be more direct payments? in a different form other than a stimulus check? Below we explain a few options. Moreover, here how to track your payment and contact the IRS if there is a problem. Here’s how too calculate your child discount. This story is regularly updated.

The following two stimulation proposals are on the table. Will they include a fourth stimulus check?

Successful in March, the American rescue plan is the first spending package in 2021, with $ 1400 checks, $ 300 extra in weekly unemployment benefits and an extensive child tax credit drawn up. (See if you qualify for the recurring child discount paymentsBiden’s administration is working on a sequel, a package the president refers to as the Build Back Better plan. That proposal is intended to invest in the country’s energy network, transport, broadband and water systems – and must not contain stimulus controlsdespite 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.)






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Stimulus Check 3: How Much Money You Get




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The next stimulus package may look different from the previous one

The American rescue plan does not authorize just one direct payment. It contains three types of payments designed to help people and families in difficulty. It is 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-off incentive payments send until $ 1400 each to those that meet the requirements.

Child tax credit: An extension of the child discount for 2021 sends eligible families $ 3,600 for each child under 6 and $ 3,000 for children 6 or older, in periodic payments up to and including the end of the year and up to 2022.

Federal unemployment premium: A monthly federal unemployment control ships until September 6 for up to $ 300 per month, in addition to state benefits for unemployed workers.

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Congress has already approved several types of aid this year.

Sarah Tew / CNET

Congress could send more payments in four other ways this year

Accept recurring paymentsBiden’s Infrastructure Act is the next likely place for Congress to provide more funding. This is where Democratic Senators are calling on Biden to push for recurring stimulus checks during the pandemic.

Pass a minimum wage hike: Some senators keep looking for ways to do that increase the federal minimum wage, which currently stands at $ 7.25 per hour. Sens. Mitt Romney and Kyrsten Sinema are the last to go 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 comprehensive child tax credit begins in July and sends periodic payments to low-income, middle-income families with children. According to White House press secretary Jen Psaki, Biden wants to make the child discount permanent. 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 all the ways the American Rescue Plan can help you, how much money you can expect the third check and how track your stimulus payment.




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