Will there be a new stimulus check push coming soon? During the COVID-19 pandemic, stimulus check sent to the Americans were crucial lifelines which may have helped the country – perhaps even the world – avert a major economic downturn that could have led to a deep recession or even depression. Although some experts now claim that the stimulus money may have led, at least in part, to the 40-year high record inflation, according to data from the U.S. Department of Health and Human Services, the money probably also kept up to 11 million Americans out of poverty.
“The most effective poverty reduction programs were payments for economic consequences under the ARP (American Rescue Plan) and unemployment benefits,” the HHS said in a statement. report from earlier this year.
While COVID-19 has essentially become endemicwhich means that the disease still exists, but not at a level that causes significant disruption of daily life, and life has returned to a post-pandemic new normal, for many, the economic situation remains gloomy. Even for those who have been able to return to the workforce, inflation the suffering is so great that difficult choices are often made that include paying rent or buyer food.
In addition, this stimulus money should not be blamed on today’s inflation, said former presidential candidate Andrew Yang. He told CNBC in April“Money in people’s hands for a few months last year – in my opinion – was a very, very small factor, as most of that money has long since been spent, and yet you see inflation continue to rise.”
Legislators on both sides of the aisle have been largely reluctant to push further stimulus checks forward, although inflation remains largely unchecked.
Forget a stimulus check – Is there a gas stimulus?
With the official start of summer this week, petrol prices have flattened out – but is expected to increase in the coming months.
As a result, the Biden administration has announced that it is considering various options to help Americans who feel pain at the pump. It has included a new stimulus plan designed to counter rising petrol prices, and the president has called for a petrol tax holiday that will last for up to three months.
Legislators have been largely skeptical of the gas tax holiday, as it would be temporary and would require the federal government to come up with other revenues to fund highway maintenance and construction projects. Raising other taxes to make up for any shortcomings would really be a case of robbing Peter to pay Paul.
A discount has also been given.
In March, three lawmakers in the Democratic House introduced legislation, viz The Gas Discount Act of 2022, which aimed to counter the high price of gasoline. Reps. Mike Thompson from California, John Larson from Connecticut and Lauren Underwood from Illinois had called for an energy discount of $ 100 a month for the rest of the year – and that legislation was actually drafted when gasoline had just exceeded $ 4 per gallon.
“The Americans are feeling the effects of the pump of Vladimir Putin’s illegal invasion of Ukraine, and right now we must work together on sound rational solutions to ease the economic burden that my constituents feel,” Thompson said. “Putin’s rise in prices is putting pressure on our economy, and I am proud to work with reps. Larson and Underwood to introduce this legislation to provide middle-class Americans with monthly payments to ease the economic burden of this global crisis.”
While that legislation has so far not gained ground, the White House is once again considering how petrol card could be sent to Americans. One obstacle that is likely to affect this plan is that the United States continues to face a shortage of computer chips, which would make it difficult to produce enough cards. So far, it seems at least unlikely that Americans can expect further stimulus relief to actually fight inflation.
Now senior editor in 1945, Peter Suciu is a Michigan-based author who has contributed to more than four dozen magazines, newspapers and websites. He writes regularly about military hardware, firearms history, cyber security and international affairs. Peter is also one Contributing author for Forbes.