Fourth Stimulus Check Calls Grow, How New Payments Could Help Reduce Poverty

More calls are coming for a potential fourth stimulus check, with an economic nonprofit now adding its voice to the melee—and even going as far to indicate that it would be beneficial to also have a fifth check heading to American bank accounts.

According to Fox News 8, the Economic Security Project, a nonprofit organization, believes that continued stimulus payments would be a huge benefit to American bank accounts, as well as the poverty level in the United States. Their data shows that the third stimulus payments of $1,400, the upcoming child tax credits and other benefits from the American Rescue Plan will bring approximately 16 million Americans out of poverty. Should a fourth and fifth check come to fruition as well, an additional 12 million would also be lifted from that status.

“Cash has been the leading force in reducing poverty during one of the deepest recessions in modern history, and is one of the only policies that can narrow persistent imbalances in poverty, income, and wealth between Americans of color and white Americans,” the group stated. “Evidence from the last year shows stimulus checks to be the fastest and most impactful investments helping Americans get through this crisis, lifting more people out of poverty than any other single policy.”

However, despite the calls for more payments, experts have also stated that, at least for now, a fourth check would be unlikely to land in Americans’ bank accounts.

“I think it’s unlikely at this time,” Raymond James analyst Ed Mills told CNBC.

Among the reasons why Mills felt a fourth check wouldn’t be likely were the current proposed infrastructure plan, which has taken a priority in the Biden administration, but a continuing rise in COVID-19 vaccination rates, which have allowed for loosening restrictions—and predictions the economy will once again begin to boom.

The Child Tax Credit, which begins in July, is also expected to be a deterrent to more stimulus checks, with eligible households receiving $300 a month per child under six and $250 a month per child ageds6-17. These credits will be deposited through December.