As a part of March’s American Rescue Plan, the IRS is currently sending the third round of stimulus checks to millions of Americans. Due to the shutdowns caused by the coronavirus, millions of households are struggling financially to cover their bills. Lawmakers are now pushing the president Joe Biden to make the provision for the fourth stimulus checks in his upcoming economic plans.
The President of the US, Joe Biden is currently working on the two new plans — the American Jobs Plan and American Family Plan. Several members of Congress (mostly Democrats) are pressuring the president to include the fourth stimulus in any of his next economic plan. If the president plans to include the fourth stimulus in upcoming plan, then it would aid greatly in lifting the Americans out of poverty.
Thanks to the current third stimulus checks, the financial conditions of American households are improving. The latest U.S. Census Bureau confirmed that there has been a huge reduction in the number of people financially struggling following the delivery of stimulus checks. 33.8% of Americans were struggling before the third round of stimulus checks, but this number fell down to 28.9% in late March.
However, the same report still shows that more than 18 million adults are still going hungry in the US.
Next stimulus checks likely to come in July
Apart from the lawmakers, who sent letter to the president asking for the fourth stimulus, the citizens have also set up a petition for the fourth stimulus checks. The online petition in the platform, change.org has already 2 million signatures, which has a goal of 3 million signatures. However, Republicans senators aren’t supporting another direct payments. They believe that the direct payments has been discouraging people to return to their work.
The Biden administration is currently working on the upcoming plans, which he called the Build Back Better plan. Biden’s current plans primarily focuses on improving the transportation, energy grid, water systems, and broadband. The plan also include a provision to provide better housing and affordable housing to Americans. Biden hasn’t publicly revealed that he supports fourth stimulus check.
The $1,400 per individual — the third stimulus check — is helping the Americans to pay their bills for groceries and rents. However, some group of people are also spending the money in investments and growing assets.