Will there be $2,000 per month incentive checks?
Here’s what you need to know.
With the threat of Omicron and the ongoing Covid-19 pandemic, you may be wondering if a fourth stimulus check is coming. The organizers of a major petition hope the answer is yes. A Change.org petition for $2,000 a month incentive check has reached 3 million signatures. according to nasty CNBC. Stephanie Bonin, a restaurant owner in Denver and the organizer of the petition, wants a $2,000-per-month incentive check for adults and a $1,000-per-month incentive check for each child. Hair petition wants recurring incentive checks to be sent every month until the end of the Covid-19 pandemic.
“Our country is still going through a rough patch,” Bonin wrote on the Change.org stimulus checks petition. “The recovery hasn’t reached many Americans — the true unemployment rate for low-paid workers is estimated to be over 20%, and many people have been in huge debt since last year for things like utilities, rent and childcare. These are all reasons why checks should be aimed at people who are still struggling and what Congress should learn from last year. It took Congress nine months to send a second stimulus check, and mere moments to issue it. Moving forward Congress should create recurring checks automatically if certain triggers are met.”
Fourth stimulus check: $2,000 per month stimulus checks
Congress offered three incentive checks to eligible Americans in response to the Covid-19 pandemic. Like the previous three stimulus checks, a fourth stimulus check would come from Congress. While Democrats control Congress, no serious attempt has been made so far to pass legislation that would bring in $2,000 a month in stimulus checks. While the previous three stimulus checks were one-time stimulus checks, this petition calls for monthly stimulus checks. What is the reason for recurring stimulus checks? Proponents say a single stimulus check is insufficient to help Americans who are struggling financially due to the ongoing Covid-19 pandemic. This also applies to those who, like Bonin, work in the restaurant industry. Last year, Rep. Ilhan Omar (D-MN) and 55 Democrats a letter to President Joe Biden to support recurring stimulus checks. However, Biden does not support fourth stimulus checks or recurring stimulus checks. Currently, Biden is focused on Congress passing his legislative agenda, the Build Back Better plan, which does not include stimulus controls.
Are you getting a fourth stimulus check?
If you’re hoping for a fourth stimulus check, it’s highly unlikely. As with student loan cancellations, it is challenging for Biden to support more stimulus and also claim the economy is recovering. As the Covid-19 pandemic continues, high vaccination rates, stock market recovery and employment statistics have improved over the past year. That said, there are still millions of Americans struggling financially as a result of the Covid-19 pandemic. These include student loan borrowers who have recently seen increased student loan deductions, which is one of the reasons Biden extended the student loan deduction by 90 days. However, it also includes tenants who may no longer have access to federal rental assistance.
The first three stimulus checks were limited based on income and other requirements, so they were not universally provided to all Americans. Congress is unlikely to support a fourth stimulus check, let alone a $2,000-a-month recurring stimulus check. Biden did not support $2,000-a-month stimulus checks during his presidential campaign and is unlikely to support recurring stimulus checks now. That said, Vice President Kamala Harris has previously backed stimulus checks of $2,000 a month for the duration of the pandemic. (What Kamala Harris means for your student loans).
The petition has a goal of 4.5 million signatures. Despite the momentum, Congress or the president don’t seem ready to issue a fourth stimulus check, either one-off or monthly.