“This bill is just the first step, a down payment, to address the crisis – crises, more than one – we are in,” said Biden, who later said his stimulus plans would indeed include a third direct payment, underscoring that for many in Congress theis smaller than they wanted. “See, that’s a negotiation issue,” he said when a reporter asked if a future bill would include the third stimulus check and how much money he would be looking for, “But it will, yes it will.”
For months the nation focused on when awill bring more economic relief to families, and to a US economy driven by the . (Calculate your here.)
The issue of additional monetary relief for individuals comes at a time when, according to the Washington Post, more than 8 million people have fallen to the poverty line since the summer; when daily positive COVID-19 cases are overwhelming hospitals across the country; and as the death toll exceeds historical records. Theis currently being managed across the country, but officials say it will take many more months .
Below we describe what we currently know about stimulus checks in 2021.
The $ 600 Stimulus Check: Less Money For Fewer People?
Theand the IRS and the U.S. Treasury are poised to ship it faster this time, with tens of millions expected to get the second direct payment by Dec. 31 and the rest in early 2021.
It gets complicated. There is a self-imposed, after what time you have to along with filing your annual taxes.
That’s not the only brain teaser. Because the upper limit for a, with an extra , as the IRS formula works, more people will reach the upper income limit for receiving a second payment, which means they all the way.
With that in mind, a third stimulus check could take a variety of angles, from addressing a segment of the population who would have missed the second stimulus check, to potentially sending a new wave of economic relief to those in the greatest financial difficulties.
Much can depend on it(see above) and what the new Biden administration sees as its goals in rebuilding an economy weakened by the coronavirus pandemic. For the time being, we are waiting to see what happens with the second stimulus check, with an eye to the beginning of 2021.
What else would there be in a new incentive law for 2021?
We already know a few of them, which he shared as part of his presidential campaign trail. Chances are he would prompt Congress to reconsider those agenda items, in addition to several programs omitted from them by both Republicans and Democrats.
They can include measures such as:
- A third stimulus check that could include more people.
- last March.
- It ended January 31, 2021.
- Student loan deferment.
- More money for national, local and tribal governments.
- More money for contact tracking, coronavirus testing and distribution.
- Liability protection for companies against lawsuits related to the coronavirus.
For more information, calculate your payment for the second stimulus check as follows:and a primer on the .