Will Congress sign off on a fourth stimulus check in 2021? Groups of senators are sketching out their ideas for the next major economic bill with the hope of getting approval from President Joe Biden. The White House so far has been careful about throwing its support behind another economic impact payment this year. “The president is certainly open to a range of ideas,” White House Press Secretary Jen Psaki said this month. “He’s also proposed what he thinks is going to be the most effective for the short term.”
Some lawmakers, however, are calling for more pandemic relief money, either as a onetime direct payment or a recurring payment, citing broad support from the public and financial analysts. Others in Washington have argued that as the economy rebounds, stimulus money should be lower on the agenda. According to a recent study, the first three stimulus checks helped reduce hardships like food insufficiency and financial instability.
We’ll tell you more about these economic measures and decisions affecting you. As for other money matters, here’s how to, what to know about the and how to for the recurring set to begin next month. This story was updated recently.
Are future stimulus checks still on the table?
have been proposed since the was made law March. But, as a May 28 White House fact sheet on the budget for fiscal year 2022 lays out, neither the American Families Plan nor the American Jobs Plan calls for a new stimulus check at this stage. It’s still possible one of these bills could extend or introduce more money through direct payments for specific groups of recipients, such as parents who earn below a certain income or people who are out of work.
Some Democratic members of the House and Senate have thrown their weight behind a fourth stimulus check. In late March, a group of lawmakers asked Biden to include regular stimulus payments in his next stimulus package. On May 17, several members of the House Ways and Means Committee made a similar request. Remarking on increased poverty and spiraling debt among Americans, they noted that “most people spent relief checks on monthly expenses or essentials such as food, utilities, rent and mortgage payments.”
A White House press conference on June 3 indicated that Biden is still “happy to hear a range of ideas” to get the economy on track. However, the administration has focused most of its recent efforts on passing an infrastructure spending package.
What about stimulus relief already decided for 2021?
The American Rescue Plan Act of 2021 from March contained three types of direct payments to individuals:
Stimulus checks: Thefor have gone to those . There’s also money going to certain individuals in the form of .
Child tax credit: A temporary expansion of thesends qualifying families up to $3,600 for each child — you can here. These monthly partial payment checks, which begin in July, will last through the end of the year, with a final payment in 2022.
Federal unemployment bonus: A weeklywas extended to Sept. 6, as was pandemic unemployment assistance to gig workers and freelancers (the self-employed). However, half of state governments have chosen to , so millions of jobless Americans in those states will be cut off as early as next week.
Could the next stimulus proposal provide extra payments?
As part of the White House’s economic stimulus strategy, the futurecould potentially include direct aid to individuals and families.
If it approves recurring payments: This plan would be the next likely place for Congress to provide more funding in the form of a fourth stimulus check.
If it makes the child tax credit raise permanent: Money from the expandedis set to start in July, sending periodic payments to lower-income and middle-income families with children. In his speech before Congress, Biden called on the House and Senate to .
If it passes a minimum wage hike: Some senators continue to look for ways to, which currently stands at $7.25 per hour. In his speech before Congress, Biden called on the legislators to raise the minimum wage to $15. Sens. Romney and Kyrsten Sinema have also pitched a wage hike. Some proponents want to set the bar at a $15 hourly wage, but others are looking to go to $11 an hour.
If it renews federal unemployment payments beyond the fall: Along with recurring payments, some lawmakers had originally petitioned for federal unemployment assistance to extend beyond Labor Day this year. However, dozens of states have, and enhanced unemployment relief is not likely to continue beyond those expiration dates. On June 4, Biden indicated that he thinks the temporary boost in jobless benefits should expire as planned in early September.
Here’s how to report a. And here’s what we know about the that’ll help you get money with the child tax credit.