4th stimulus payment update, $2,000 check petition and 2021 relief money. Here is the latest

4th stimulus payment update, $2,000 check petition and 2021 relief money. Here is the latest

A new batch of stimulus checks is unlikely, but a petition for ongoing pandemic relief payments is making headway.

While the first three rounds of stimulus checks have helped many families cover household expenses and meet other needs, a fourth payment isn’t on the short list of items to include in President Joe Biden’s next big economic bill. More aid is on the way this week: On July 15, roughly 36 million eligible families are scheduled to receive their first advance monthly payment of up to $300 per kid with the 2021 child tax credit, which will bring some immediate financial relief.

Some lawmakers had called for more stimulus money during the spring. Now, however, many in Washington argue that it’s less of a priority due to signs of a post-lockdown economic rebound — like new jobless claims dropping to the lowest since last year. At the same time, demands for payments are gaining public support. With over 2.5 million signatures, a Change.org petition states: “The true unemployment rate for low-wage workers is estimated at over 20% and many people face large debts from last year for things like utilities, rent and child care.”

So what does this mean for the fate of a fourth stimulus check? We’ll explain below. As for other money matters, the federal expansion of the child tax credit gives parents the option of receiving monthly checks this year or one lump sum for up to $3,600 per kid in 2022. Here’s how to check on your tax refund if you haven’t received it yet and what to know about the unemployment tax break. We continue to update this story.

What about the petition for recurring $2,000 checks?
A current Change.org petition that has collected nearly 2.6 million signatures calls on Congress to send out a fourth stimulus check of $2,000 for adults and $1,000 for children on a monthly basis for the remainder of the pandemic. The petition notes that “the recovery hasn’t reached many Americans” and points to the need for immediate checks and recurring payments so that “we can keep our heads above water.”

According to a recent study, the first three stimulus checks helped reduce hardships like food insufficiency and financial instability. So far during the pandemic eligible adults have received a max of $3,200 and children have received $2,500. For many struggling families, that’s not enough to bounce back from lost wages and benefits. While the Change.org petition is close to becoming one of the most popular on its website, whether it will have any effect is another question.   ReadMore


Source : cnet