Getting started!
Getting started!
Getting started!
Getting started!
by Dana George | May 20, 2021
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Compared to this time last year, life seems to be getting better. And it definitely looks good for a lot of Americans. But the call for a fourth stimulus check has to do with the millions still struggling to put food on the table. Here are three reasons so many people are still hoping for extra help with another direct stimulus payment.
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Despite the fact that 6 out of 100 workers in the US are unemployed, 22 Republican-led states have realized that there is no longer need to increase unemployment benefits and are choosing against federal programs to the unemployed workers pledged an additional $ 300 per week through September 4, 2021.
For families struggling to get along during the pandemic, taking more away from them is a recipe for financial disaster. An unemployed worker who was counting on an additional $ 1,200 per month may not be able to pay rent. This, in turn, can affect the landlord’s ability to pay their bills, and so on.
While the increased unemployment benefits have been deemed frivolous by the GOP, those benefits are part of what has helped millions of Americans to stay afloat. It’s easy to see how a cut could increase calls for help in other forms, including more stimulus money.
Starting in July, middle- and low-income families will receive monthly payments under the Extended Child Tax Credit. According to the Biden government, approximately 88% of all children living in the US are eligible.
While the child tax credit is expected to help the economy recover, not everyone has children. Americans without children must find a way to get back on their feet without the help of a tax credit.
It seems that there are two camps when it comes to vaccine and mask compliance. There are those who oppose the vaccine and fight tooth and nail to avoid wearing a mask in public and those who carefully follow CDC recommendations. Now that mask mandates are lifted across the country, it can be assumed that Americans who have carefully protected their health for the past 15 months will be reluctant to visit stores and restaurants that offer a completely mask-free experience – largely because there is no way of knowing who was vaccinated.
For some businesses, recovery can be slow as Americans get a better sense of where to safely spend time. Among the small businesses that have survived the pandemic to date, a slow recovery will inevitably mean the need for additional help.
While we don’t expect the call for a fourth stimulus check to resolve anytime soon, we are realistic enough to see that Congress has already moved on to other issues, such as whether there was a riot on January 6th and how much « too much » for an infrastructure bill.
If the number of COVID -Death deaths and unemployment improve, the demand for more incentive money may decrease. The next few months should tell the story.
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Dana has been a personal finance writer for more than 20 years, specializing in credit, debt management, investing, and doing business.
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