Fourth Stimulus Check Update: Everything We Know So Far About New Batch Of Direct Payments

Americans have been eager for updates on the status of a fourth stimulus check payment from the government nearly since most received the third checks back in March. However, not much information has circulated on what, when or even if another direct payment will be made.

Here’s everything we know so far about more stimulus checks.

The Biden Administration Is ‘Open To Ideas’

While they haven’t allocated for direct payments in any of the current new economic plans, which are focused on infrastructure and education, the Biden Administration has not fully ruled out the idea of additional stimulus check payments for all Americans in the future. During a press conference in June, Press Secretary Jen Psaki indicated that the President was willing to listen to different ideas regarding stimulus checks, meaning that while they weren’t on the table now, they could be again in the future.

“He’s happy to hear from a range of ideas on what would be most effective and what’s most important to the economy moving forward,” she said at the time. “But he’s also proposed what he thinks is going to be the most effective for the short term for putting people back to work, to getting through this pivotal period of time, and also to making us more competitive in the long term.”

Americans Want More Direct Payments

Though the administration hasn’t indicated what they would consider if presented with a plan, some Americans have come up with an idea on their own, and even signed a petition in order to make it a reality. That petition calls for automatic payments of $2,000 to qualifying Americans when certain economic factors are met, meaning that if another incident like the COVID-19 Pandemic were to happen, that instead of having to wait for new checks to be approved by Congress, payments would be immediately deposited into accounts until the stressing time had passed.

Some Money Is Coming

Of course, not all Americans are out of options when it comes to direct payments. While direct payments with no real stipulations attached aren’t planned, the Enhanced Child Tax Credit is soon going to bring money into the accounts of Americans. Parents who qualify will receive $300/month for each child under 6 and $250/month for each child between the ages of 6-17 from July through December. If the Biden Administration has its way, those payments would also be extended through to 2025.

In addition, homeowners and renters are also eligible for some extra money through the Homeowners Assistance Fund (HAF), though there are more stringent requirements attached to receiving those funds, which are meant to protect Americans from foreclosures or evictions.

They May Not Be As Helpful As People Think

Some experts have also warned that while Americans have certainly enjoyed the stimulus payments, there is a downside to the direct payments as well. Inflation has swelled and lead to high prices in many different areas, forcing Americans to figure out a way to further stretch their dollars. Some have expressed concern that the stimulus checks, which put more money in American’s pockets and increased spending, could directly correlate with more inflation and higher prices.

There is also concern over whether or not the private sector can make up for the financial benefits when the government handouts desist. It is believed that since the payments were front-loaded, there could be another economic downturn.