With each passing day, the chances of a fourth stimulus check-in 2021 recede. But more lawmakers have joined in the chorus for greater stimulus support to supplement the $1,400 Economic Impact Payment.
More than 20 states have given up unemployment assistance from their stimulus package to get more people back to work. As the economy opens up, businesses have been unable to hire sufficient workers. State politicians believe that the American economy has recovered sufficiently for people to get back to work.
The accelerated vaccination drive has also helped people to get back to work. In such a scenario, it no longer makes sense to continue with further government aid, they argue.
In a parallel development, IRS records acquired by The Boston Herald have shown that 1.24M stimulus checks were either not collected or cashed, or were returned from the first stimulus payments.
People Still In Desperate Need For Support
Evidence on the ground points that many Americans are still struggling to put food on the table and being forced to go without necessities.
A study by the American Enterprise Institute pointed out that stimulus payments have been able to stem a slide into poverty for many Americans. The same was reported by the Peter G Peterson Foundation which noted that the stimulus payments helped most families who were without a regular source of income.
Relief Beyond The Third Stimulus Check
The government has various programs to help people beyond the stimulus checks. This includes several measures to help employees and owners of small businesses through the Paycheck Protection Program. This program is backed by the government and provides money for payroll and allied benefits.
Other benefits include the Restaurant Revitalization Fund to help bars and restaurants in their recovery, and the Economy Injury Disaster Loans, which helps compensate for the loss of income related to the pandemic you can apply for a small loan.
The Child Tax Credit will help families with children with monthly checks up to $300 per child from July to December 2021. This is only half of what they are entitled to. The rest will come in as refunds against the 2021 tax returns.
The federal support of $300 per week for the unemployed will continue till September 6, 2021. Gig workers and self-employed workers have been also benefited from assistance programs. There have also been funds to assist homeowners and renters.
