Millions of people haven’t even received their third stimulus payment from the government and many Democrats in congress are already considering the idea of sending out a fourth stimulus check to millions of citizens across the nation. Some democratic members in congress even went as far to suggest that there should be unlimited stimulus checks that deploy automatically until the pandemic ends.
Only around 20 Democrats support a fourth stimulus payment right now and there’s clearly not enough support for it to pass in either chamber of congress. It’s not even entirely sure that Biden’s administration is in favor of an additional stimulus payment if the coronavirus pandemic continues to improve into the summer months of 2021.
With the ‘American Rescue Plan’ now officially signed into law, millions of Americans continue to receive checks in the mail or direct deposits into their personal bank account for their eligible amount. The major debate for a fourth stimulus check stems from the idea that $1,400 payments will not last enough for individuals that are already behind on their rent payments and bills. With that being said, it’s hard to imagine that congress passes another stimulus bill so quickly after the ‘American Rescue Plan’ was signed into law.
Biden’s administration has seemingly shifted their focus towards a massive infrastructure bill that could see corporate tax rates rise significantly. In addition, the plan could cost nearly $3 trillion dollars and it just doesn’t seem possible for the government to continue spending at this rate without some undesired economic consequences falling upon the nation.
The odds are probably not likely for a fourth stimulus payment but some members of congress support a universal basic income, similar to the ‘freedom dividend’ that former Presidential candidate Andrew Yang endorsed during his candidacy in 2020. There’s no reason to currently believe that a law like this will receive enough support but nothing seems impossible right now as Democrats cling to a narrow majority with both chambers of government.
If Democrats have a desire to enact a universal basic income or continuous stimulus payments, they are going to have to probably take advantage of their slim majorities in congress prior to 2022 where they will likely lose at least one of them. Continuous stimulus payments are not a popular conservative idea and most Republicans will not support it unless it is absolutely a necessity.
The odds are probably now in your favor if you are hoping to receive an additional stimulus payment. You shouldn’t expect a fourth stimulus payment anytime soon unless the coronavirus pandemic takes another major turn for the worst. With the economy improving and many jurisdictions reopening soon, it seems increasingly unlikely that there will be any further financial relief provided to the citizens of America right now.