Millions of Americans are looking forward for the fourth stimulus checks, which will greatly aid millions of households to put food on a table. The latest report from an insider suggests that the President of the US has already approved the fourth stimulus checks worth up to $2000. However, the President hasn’t publicly announced that he supports the fourth direct payments.
Lawmakers are also pressuring the Biden administration to sign the $2,000 stimulus check. The Congress hasn’t moved forward the proposals and the potential fourth round of stimulus checks depend upon its decision. Democratic lawmakers even sent a letter to the President claiming the need for at least another round of stimulus checks. Republicans, however, doesn’t support the idea of another checks.
The IRS has already delivered $3,200 checks to all the eligible adult due to the financial crisis caused by the coronavirus pandemic. Such eligible adults received $1,200 through the Coronavirus Aid Relief and Economic Security Act, signed in March 2020 and addition $600 through December relief measure. Joe Biden recently signed the $1.9 trillion American Rescue Plan, which provided the eligible adults with $1,400 checks.
Some families would start receiving money from July 2021
The federal government has already sent 164 million during the third round of stimulus checks. Now, the eligible families can look forward to the new advance payments from July. These families will receiving the payments, thanks to the expansion of the 2021 Child Tax Credit. The IRS announced that the eligible taxpayers who have a home in the US for more than a year and half will receive the advance payments.
These advance payments would be made starting from July 2021 till December 2021. The credit will also include those children who will turn or have turned 17 years old in 2021. Families who have claimed the child tax credit can legally receive up to $3,000 for all the qualifying children aged between 6 and 17 years. This year the tax credit has increased by $1000 as previously it was only $2,000.
The direct payments have aided greatly for those who are struggling financially due to the pandemic. Thanks to the stimulus checks, the economy is improving, and the households are able to pay their bills and rents. However, this isn’t enough as 18 million adults are still going hungry every month in the country. Elsewhere, Republicans are opposing the plan of next stimulus checks claiming that the payments have discouraged people to return to work.