Beyond Paying to Make a Fourth Stimulus Check

Beyond Paying to Make a Fourth Stimulus Check

some lawmakers are pushing for the fourth round of stimulus financial aid that would effectively send recurring payments until the pandemic is over.

To date, the federal response to the economic crisis caused by the coronavirus pandemic has provided $3,200 per adult, more than 18, $1,200 under March 2020. Coronavirus Relief and Economic Security Act; $600 in relief action in December; and $1,400 under the US bailout signed by President Joe Biden in March. 

Despite that financial help, millions of Americans are still cash-strapped, and the spread of the delta variable is creating new economic headwinds. According to a Census survey, a quarter of Americans struggled to pay their home expenses in the previous week.

In all states, about 14.6 million people are currently receiving some form of unemployment assistance. The unemployment rate is 5.4%, still above the level of 3.5%.

 Economists are citing concern about the spread of the delta variable, with Oxford Economics on Monday slashing its forecast for global economic growth in 2021 to 5.9% from 6.4%.

"Uncertainty and hesitation may eventually lead to a slower recovery from here than our baseline assumes.

For many people, the latest round of $1,400 checks may not last long—a problem on the minds of many Americans who still struggle with unemployment and a weak job market. More than 2.8 million people signed a petition that began last year calling for senators to pass legislation for $2,000 monthly payments.

Twenty-one senators — all Democrats — signed a March 30 letter to Biden supporting the recurring stimulus payments, stating that the $1,400 being distributed by the IRS wouldn't change people for long.

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