The Covid 19 pandemic that began in early 2020 has led to a major global crisis that has not stopped since the time it began. With people losing their jobs and increasing deaths, the economic market has dropped to a percentage beyond expectation. Although the advent of vaccines has increased the economic percentage but now with the new variant Omicron hitting the market, the dangers have increased again. According to the latest source, Joe Biden stated that the country doesn’t need a lockdown yet. The reason for the same being that the international flights have been put to a halt for now and it has bought in some time to research on the variant. So, the big question is, when is the 4th stimulus check getting released?
The US also introduced various relief payments and incentives to ease suffrage during this global crisis. The third round of this relief plan was seen back in March this year where $1400 was given to around 169 million people each. But this relief plan even benefited people who as such were not in need of this incentive that even led to increased saving percentage. There has been recent arrival of booster shots for adults and children as per need. Also with the low-interest rates, the housing sector has gushed while the stock market that fell considerably earlier seems to perform quite well.
Child Tax Credit
July 15 2021 marked the biggest child tax credit in history wherein $250-$300 were given per child to the families. The relief was increased by the American Rescue Plan to $3000 (earlier $2000) per child belonging to the age group of six years or while $3600(earlier $2000) per child hailing from the age group under six years. Adding to this the age limit that was earlier set to 16 was increased to 17. Also, Full credit to the working families, if a couple makes in total up to $150,000 or a single parent, makes $112,500 was provided.
Medical aid has been provided to the people in need and the country’s main focus has been on medicare with the allocation of $70 billion on the vaccine, testing, and more in addition to $10 billion to ease such activities by manufacturing various medical devices and PPE kits. Various schemes for pregnant women, the workforce, people living in real areas, and even for mental health and disorders have been allocated with separate relief and facilities to those in need to reduce the financial burden. For instance, $9.1 billion has been invested for workforce support while around $15 billion for child care and development has been included in the law.
Need For A 4th Stimulus Check
But many of these provisions have ended and even with the availability of these relief plans, people are suffering from hunger or barely able to make it from hand to mouth. According to a report, a 4th stimulus check can actually reduce poverty by at least 6.4 percent. But for now, Joe Biden and his administration are not giving minds to another stimulus. However, they are not totally against it too. But the focus, for now, has been set to various fields and they hold a greater priority at the moment. Also, Joe realizes the aftermath of a stimulus like this as it would drop the economy and can even lead to inflation.
Can we expect another stimulus after the 4th Stimulus check?
The latest bill put forward has some departments in focus which does not include a relief plan in it. So it is unlikely that a 4th stimulus check can be dropped anytime soon. The department however in focus included infrastructure and jobs which would surge the economy and bring forth various employment opportunities. The bill proposed is INFRASTRUCTURE INVESTMENT AND JOBS ACT which is a $1.2 billion bill and seeks to aim at building quality bridges and roads, enhancing access to the internet, and even improving rail service maintenance.
Another reason that a stimulus like this can not be expected is that with developments in the status of vaccinated people, vaccination booster shots and reducing risks have led to people stepping out in the workplace. Also, with the advancement of vaccines for the age group of 5-11 years, the risks have lowered even more. So, the focus, for now, remains on boosting the economy, and the recent bill has no mentions for such a stimulus so nothing can be expected for now on this subject.