Stimulus Check Update: Can Americans Expect A Fourth Round Of Direct Payments?
In March, President Joe Biden signed the $1.9 trillion American Rescue Plan Act, which guaranteed millions of U.S. households a third round of direct stimulus payments. Checks worth up to $1,400 went into the bank accounts of millions of qualifying Americans.
Eight months later, some Americans may be asking: will there be a fourth round of stimulus checks anytime soon?
The short answer: don't count on it.
While there are Democrats on Capitol Hill who have voiced interest in another round of payments, Republican lawmakers have essentially shut down the conversation over inflation concerns and an economy that has mostly rebounded from the pandemic.
Sen. Mitch McConnell, R-Ky., said in April that another round of stimulus was unlikely and at the same time dismissed Democrats' infrastructure efforts, which have since moved forward.
"I can't imagine the economy is going to need a fourth round," McConnell said in an interview with WEVV 44News. "But they're putting together this so-called 'infrastructure package,' which is gonna include more borrowed money and big tax increases on the most productive parts of our economy."
A group of more than 20 Senate Democrats had signed a letter in late March recommending Biden to consider recurring direct payments instead of a one-time check.
The Biden administration has instead pushed for a $1.2 trillion infrastructure spending bill, which Biden signed on Nov. 15. The Democrat-controlled House would later pass Biden's $1.75 trillion social spending bill which heads to the Senate, where it is likely to be revised.
Talk of more direct payments to Americans was not on the table.
Much of the optimism for another round of stimulus checks has come from a petition on Change.org. As of Monday morning, there are over 2.97 million signatures.
"I’m calling on 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. Otherwise, laid-off workers, furloughed workers, the self-employed, and workers dealing with reduced hours will struggle to pay their rent or put food on the table," the petition from Stephanie Bonin reads.
Debate about a fourth round of stimulus may again surface should the economy slow down in the coming months. Concerns remain over a shortage of workers and supplies, as well as a fast-spreading new strain of the coronavirus. Meanwhile, American households are carrying record amounts of debt.
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