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’, 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.
The following two stimulation proposals are on the table. Will they include a fourth stimulus check?
Successful in March, theis the first spending package in 2021, with , and an extensive drawn up. ( for the Biden’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, , 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 next stimulus package 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 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-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
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, 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 comprehensivebegins 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, how much money you can expect and how .