The IRS is almost done sending out the third stimulus checks, and the people are now wondering if Congress will approve another round of stimulus payments. So far, however, there are no official talks on the next stimulus payment. Let’s take a look at what Congress and the White House are saying about another coronavirus stimulus check.
Q1 2021 hedge fund letters, conferences and more
House Ways and Means Committee – they are the latest to come up with support for another round of stimulus checks. Earlier this week, six members of this Committee wrote a letter to President Biden asking for recurring direct payments. In the letter, the members noted that the stimulus checks should be made part of the American Families Plan.
Also, the letter said the coronavirus stimulus checks should be tied to economic conditions to ensure checks go out as long as the pandemic lasts. Further, the letter noted that more checks would help keep 12 million people out of poverty. The House Ways and Means Committee is regarded as the most powerful panel in Congress. It is primarily responsible for writing tax laws.
The White House – President Biden, so far, hasn’t committed to another round of stimulus checks, but the positive thing is that he hasn’t ruled them out as well. However, recent comments from White House Press Secretary Jen Psaki raises doubts about the chances of another stimulus check.
“We’ll see what members of Congress propose, but those are not free,” she said at a press conference.
Biden, meanwhile, is focused on the American Jobs Plan, a $2 trillion plan with a focus on infrastructure, and the American Families Plan, a $1.8 trillion plan with a focus on education, child care and paid family leave.
Support growing, but approval unlikely
Democratic Members of Congress – a recent report from Newsweek claims that more than 80 Democrats in Congress support another stimulus check. Many have already made their intentions clear to Biden.
Earlier this spring, Sens. Elizabeth Warren, Bernie Sanders and 19 other members of the Senate sent a letter to Biden, requesting recurring direct payments. Democratic Rep. Pramila Jayapal also proposed $1,000 recurring monthly payments to those hit hard by the pandemic.
People – a January poll found that about two-thirds of voters support more stimulus payments. Moreover, a Change.org petition, asking for more stimulus checks, has already gotten more than 2.2 million signatures. This petition requests Congress to “support families with a $2,000 payment for adults and a $1,000 payment for kids immediately, and continuing regular checks for the duration of the crisis.”
Even though several lawmakers and people are demanding another round of stimulus checks, a fourth stimulus payment seems unlikely. The U.S. economy is showing signs of improvement, and thus, many do not feel the need for another stimulus check.
Moreover, President Biden is currently working on his American Jobs Plan and American Families Plan. These plans may not include stimulus checks, but offer plenty of other direct benefits to families.
