The stimulus payments have been helping millions of Americans to overcome financial crisis during the pandemic since last year. The economy is on the course of recovery, but still millions of people are facing financial woes one way or another. Many individuals and lawmakers have been continuously clamoring for the fourth stimulus payment worth up to $2,000.
There hasn’t been definitive answer regarding the fourth round of stimulus checks. The reports claimed that the President Biden is working for the next round of stimulus payments. However, the recently elected president hasn’t publicly talked about the upcoming potential stimulus payments. Jen Psaki, White House Press Secretary, in June press-conference reported that the president is open to wide range of ideas when asked about the next round of stimulus checks.
President Joe Biden in March 2020 signed a relief package dubbed as American Rescue Plan (ARP), which had the provision of third stimulus checks. The IRS has already sent the payments to around 169 million people worth $1,400 each. Previously, the IRS delivered payments worth $600 in January and $1,200 last year, when the former president, Trump was still in the office.
Reports suggest fourth stimulus checks are planned for Q3 2021
A new report claimed that the Biden government are working to roll out the fourth stimulus payments in the third quarter of this year. In May, a group of Democratic lawmakers even sent a letter asking for a fourth and fifth stimulus checks, claiming that American families will continue to suffer until the pandemic ends. However, Republicans in the Congress strongly opposed against the fourth checks as they believe that the payments are discouraging people to return to the work.
Families have to wait longer regarding the confirmation about next round of stimulus checks. However, there is a new direct payment, particularly as child tax credit, will begin this month. Thanks to the child tax credit, some families may receive more than $14,000 in total payments starting this month.