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Showing posts with label fourth stimulus check. Show all posts
Showing posts with label fourth stimulus check. Show all posts
The fourth stimulus check amount depends on several factors. If passed, it would probably look similar to the previous checks, although that's not guaranteed.
For reference, the first stimulus check amounted to as much as $1,200, while the second stimulus check brought $600 to eligible Americans. The third stimulus check, which the IRS is still in the process of distributing, is worth up to $1,400 per person, although the eligibility requirements are narrower.
All three checks gave the full amounts to taxpayers who made up to $75,000 a year, according to their most recent tax returns. Couples filing jointly got the full payment if they had a joint total income of $150,000 or less.
With the first two checks, those making up to $99,000 alone or $198,000 as a couple received prorated payments. With the third check, individuals who earned more than $80,000 per year or $160,000 per year as joint filers got nothing. Our guide to thestimulus check calculatorcan show you what your own eligibility looks like.
A fourth stimulus check from the government could take one of two forms: monthly checks in fairly small amounts, or one-time payments of up to $2,000.
Both options have been put forward by legislators in Congress as follow-ups to the third round of pandemic relief payments, which were made possible by the American Rescue Plan Act of March 2021.
Fourth stimulus check amount — here’s how much it could be
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Here's how to make sure you get your next stimulus check
The U.S. economy is still recovering, with slow but steady job growth even as unemployment numbers hold steady. Inflation, however, appears to be on the rise, contributing to fears among economists and lawmakers that further stimulus payments could only fuel more price hikes.
As a result, there's no legislation in Congress that would create a fourth round of stimulus payments, even though some Democratic lawmakers have called on President Joe Biden to consider recurring payments. The White House has passed back the buck, stating that the president would consider whatever Congress comes up with.
In May, seven Democrats on the House Ways and Means Committee sent a letter to President Biden requesting that the administration add a fourth and even a fifth stimulus check to the American Families Plan announced earlier this spring.
But the White House has said little about a fourth stimulus check. In a press conference in June, White House Press Secretary Jen Psaki said, "The president is certainly open to a range of ideas," when asked about the lawmakers pushing President Biden for more stimulus checks. But that doesn't mean a fourth stimulus check is happening.
"We'll see what members of Congress propose," Psaki added, "but those [stimulus checks] are not free."
The most noteworthy economic effort in current legislation is President Biden's $2.25 trillion infrastructure investment proposal, the American Jobs Plan.
That proposal doesn't include a fourth stimulus check or anything like the direct payments that millions of people received over the course of the pandemic. Rather, it's a long-term initiative to rescue, recover and rebuild the country's financial standing.
Call us now at 215.550.3636, Monday through Sunday, should you find yourself in a scramble to understand more about the fourth stimulus check.
