Fourth Stimulus Check: Will there be one amounting to $2000?

Fourth Stimulus Check: Will there be one amounting to $2000?

No legislation supporting a fourth stimulus check has yet to pass.

The Internal Revenue Service has already disbursed more than 163 million relief payments since mid-March. While the distribution continues, many are now wondering whether there will be a fourth stimulus check.

There is no legislation on the table yet, and it is not still expected to pass. Even so, the talks and speculations about it persist to develop these past few weeks.

iTechPost released a run-down of the potential amount and timeline of the fourth COVID-19 relief payment. This is in the assumption that it will push through, with the details basing on the previous check disbursements.

Will there be a fourth stimulus check?

The publication said that the approval depends on several factors. But, if passed, the fourth stimulus check will follow the same timeline and scope as the first three rounds of payments.

Despite this, no clear word has been publicized yet. The most notable proposal as of the moment, however, is the American Jobs Plan.

Tom’s Guide reported that this does not include a fourth COVID-19 relief payment. As explained, it focuses on rescuing, recovering, and rebuilding the economy following the pandemic crisis.

Will there be a fourth stimulus check?

A call for more stimulus payments

In line with the latest proposal, labor market and tax experts do not reportedly anticipate, as well, that there will be a fourth stimulus check in the next relief package. This comes after they perceive that the economy still needs to recover from the recession caused by the pandemic.

Even so, Democrats are pushing U.S. President Joe Biden to “extend other stimulus measures,” according to USA Today. This includes the duration of unemployment benefits, as well as the child tax credit payment program.

The potential amount of the next COVID-19 relief payment

Following the American Jobs Plan proposal, reports said that a petition for a fourth stimulus check amounting to $2,000 surpassed over 2 million signatures. The move continues to gain support in recent weeks despite it first emerging last year.

With this at hand, many are speculating that the next relief payment may amount to the said figure. If it does, it would be an upgrade to the over AU$1,800 third, AU$770 second, and AU$1,500 first payments.

As for the timeline of disbursement, the entire process will begin after the approval from the legislation. Once passed, it is reportedly possible that the signing into a bill may take a week.

Another two weeks will, then, be needed to process the payments before the Internal Revenue Service sends them out to the eligible recipients. But, all in all, the White House has yet to break its silence regarding the potential fourth stimulus check.

 

Images courtesy of (1)Jernej Furman/Flickr & (2)Pictures of Money/Flickr

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