Americans may soon receive another direct payment from the Federal Government. But, reports said that it is not the fourth stimulus check.
The speculations surrounding the fourth stimulus check continue to develop these past few weeks. But, despite the clamor for another round of relief payments, the likelihood of it remains uncertain.
To date, the Internal Revenue Service has distributed more than 165 million. This is still a part of the third round of COVID-19 relief payments, with each check amounting to $1,400.
As the roll-out continues, many are already looking forward to the fourth and fifth checks. Yahoo! Finance emphasized, however, that these payments anytime soon are “not likely.”
The fourth stimulus check is “not likely” to arrive anytime soon
The publication said that several posts and articles these days are “teasing” the arrival of the fourth stimulus check. But, it pointed out that the U.S. President’s infrastructure plan does not include this payment. As explained, this is what the “administration is trying to pass through Congress” today.
Also, it will likely reportedly meet “resistance” from others. This is despite the fact that some Democratic lawmakers have already called for another round of relief payments.
The outlet, then, recalled how the Republican Senate and House members “voted against” the POTUS’ American Rescue Act. This apparently includes the third stimulus checks. Accordingly, a push for another round of such payments may not receive enough support from the majority.
What the economists, experts are saying
The debate on the matter persists to develop, as well. My Twin Tiers released an article, detailing what experts, like economists, had to say about the fourth stimulus check.
Martin Cantor, who is a consulting economist, reportedly said that the COVID-19 relief payments have already “served” their purpose. He stated that “the money was needed because people couldn’t go to work.”
But, considering that the economy is now “starting to pick up,” another stimulus payment is no longer necessary. He explained that it will only “prolong people not going back to work.”
About the “Plus-Up Payments” and other potential direct payments
While the fourth COVID-19 relief payment is unlikely to happen, reports said that the American public may still receive another direct payment from the government. These include the “plus-up” payments, Child Tax Credit, and the potential tax refund.
As discussed, individuals who did not receive the full amount of their third-round check may obtain the “plus-up” payments. As for the Child Tax Credit, eligible Americans will get “monthly payments” starting this July up to December.
Meanwhile, some taxpayers may reportedly expect an additional tax refund, as well. This is applicable to those who received unemployment benefits last year and consequently filed their returns prior to the American Rescue Plan.
Several publications have released the details of these other direct payments. But, regarding the fourth stimulus check, there are still no new updates about its status and developments.
Images (1) & (2) courtesy of Jernej Furman/Flickr