Stimulus Check has been like pain relief for Americans. The program was sanctioned by the administration of Joe Biden.
America went into complete shutdown when the first wave of coronavirus hit the world. Most of the families struggled to make a decent living.
A large number of citizens were assigned to on-site work. However, the inflicted lockdown meant they could attend work any further. This created a large number of unemployed. The percentage of unemployed Americans shot up amidst the shutdown.
Others who opted for online work struggled as well. Most of the companies did not pay their employees their desired remuneration. The IRS sent out the third set of checks recently. The $1400 checks seemed to be the last of the lot.
This made the American citizens very much concerned. They demanded vehemently further financing from the government. Petitions and letters were thrown at the government. Some of the political officials also seconded the people’s demands. One of the petitions has managed to accumulate over 3million signatures.
It asked for a monthly disbursement of a $2000 check for the citizens. Unfortunately, all these petitions seem to have gone in vain. The IRS has recently justified its decision of not providing any further checks. Let us learn more about the story in detail below.
Stimulus Check: Improving Rates Of Unemployment Leads To Cancellation Of Federal Aids
It is no rocket science that there will be no more stimulus checks from the federal government. Despite vociferous demands, the government is adamant about its stance. One of the biggest reasons is inflation.
The American economy is experiencing high rates of inflation. The percentage has made a significant jump from what it was in last March. Inflation in America currently stands at 7.5%. This number was 2.6% in March 2021.
Another big reason for declining against stimulus checks is the improved rate of unemployment.
As things are getting back to normal, the rate of unemployment has improved significantly. People have once again got employed and thus, the possibility of another check is as good as gone.
