January 23, 2022

Stimulus checks in 2022: Here’s the push for more immediate aid as US omicron rises

The ommicron variety is rapidly spreading across the US Yahoo Finance reports that the last week of December had a record number of COVID-19 in a seven-day period with 265,000 cases.

With the spate of COVID-19 cases, some may wonder how this is pushing Democrats to push for a fourth stimulus check.

Yahoo Finance reports that there are still some lawmakers advocating a fourth round of stimulus controls and/or recurring payments. In the spring, 21 Democratic senators pushed for a fourth stimulus check or recurring payments. Since then, there hasn’t been much movement around stimulus controls.

But proponents still insist. A restaurant owner named Stephanie Bonin created a Change.org petition that has passed its 3 million signatures and reached a goal of becoming one of the best campaigns on the platform.

While there are growing numbers of COVID-19 cases involving ommicron and Americans having to take time off from work to recover, Wall Street analysts argue that a new stimulus check is still unlikely.

Brad McMillan, chief investment officer at Commonwealth Financial Network, said pumping more money into the economy would only increase inflation. “One of the causes of inflation is an explosion in demand, driven by federal stimulus.

Nevertheless, the White House spokesperson says the Biden administration remains in touch with lawmakers about the possibility of future stimulus controls, Reuters reports:.

However, White House press secretary Jen Psaki said the economy is better than it was a year ago, citing higher vaccination rates, job growth and economic growth as evidence of a better economy despite the omicron variant so far.

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