Latest Updates: Information on the 4th Stimulus Check and Who Qualifies
As the COVID-19 pandemic continues to impact the world, governments around the globe are working to provide some relief to their citizens. Here in the United States, there has already been three stimulus checks that have been distributed by the federal government. But the question on everyone’s mind is: will there be a fourth? In this article, we’ll take a closer look at the latest updates on the fourth stimulus check and who qualifies for it.
Background
The first stimulus checks were issued in March 2020 as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The federal government provided Americans with a one-time payment to help alleviate the financial burden caused by the pandemic. The second and third stimulus checks followed in December 2020 and March 2021, respectively. These payments were also designed to help support individuals and families during difficult times.
The Push for a Fourth Stimulus Check
Since the distribution of the third stimulus check, there has been a growing push for a fourth round of payments. The pandemic has had far-reaching impacts on the economy and the wider society. Many individuals and families are still struggling financially, and a fourth stimulus check could provide much-needed relief. In fact, a petition calling for recurring monthly payments has garnered over 2 million signatures.
The Latest Updates
As of now, there is no definitive answer on whether there will be a fourth stimulus check. The Biden administration has not yet made any official announcement on the matter. However, there have been some recent developments that indicate a fourth round of payments could be on the horizon.
First, President Biden has proposed a $1.8 trillion American Families Plan that includes additional financial support for families. This plan includes measures such as extended child tax credits, free universal pre-school for three- and four-year-olds, and paid family leave. While this plan does not include a direct payment like the previous stimulus checks, it could still provide financial support to families in need.
Second, the Internal Revenue Service (IRS) has recently announced that they will be sending out monthly payments for the child tax credit starting in July 2021. These payments will provide families with much-needed financial support, and some experts believe that they could lead to a fourth stimulus check down the line.
Who Qualifies
If a fourth stimulus check were to be approved, who would qualify for it? The eligibility criteria for the previous stimulus checks were based on income levels. Individuals earning less than $75,000 per year and married couples earning less than $150,000 per year were eligible for the full stimulus payment. However, eligibility phased out for individuals earning more than $80,000 per year and married couples earning more than $160,000 per year.
It’s likely that the same income-based eligibility criteria will be used for a fourth stimulus check, should one be approved. However, this is not yet confirmed, and the eligibility criteria could change based on the specific parameters set by the federal government.
Conclusion
While there is no definite answer on whether there will be a fourth stimulus check, it’s clear that there is growing support for additional financial support to help individuals and families navigate these challenging times. If a fourth stimulus check is approved, it’s likely that eligibility criteria based on income levels will be used. In the meantime, the American Families Plan and monthly child tax credit payments could still provide much-needed support to families in need.
