Is there any chance of a fourth federal stimulus check this year?
Is there any chance of a fourth federal stimulus check this year?

Is there any chance of a fourth federal stimulus check this year?

Stimulus check

The federal administration has from time to time responded to the pandemic through stimulus check from April 2020. On 1st check worth $ 1,200 was followed by a 2nd in December to the value of $ 600 the same year. The 3thrd stimulus check was the highest, signed by President Joe Biden in March 2021.

The $ 1,400 stimulus check from the Biden administration was the last federal payment. Repeated appeals from a section of legislators and an online collection of signatures from ordinary citizens yielded no results. And the only stimulus check that citizens can hope for from the federal administration is the 50% balance, which will either be adjusted in relation to the 2022 tax applications or sent as a refund check.

The inflation rate eliminates the chances of another stimulus check

The biggest concern for citizens and the administration is the growing one inflation. The inflation rate has risen to 7.5%, the highest ever since February 1982, according to data released by the US Department of Labor on 10 February. This is an increase from only 2.6% when the third stimulus check was declared in March 2021.

Critics of the control claim that such frequent support was one of the main reasons for the rise in inflation.

Another factor that goes against the chances of a 4th check is the falling unemployment. The pre-pandemic unemployment rate was 3.7% and fell back in February 2022 to 3.8%. So it has come a full circle, which weakens the case for a fourth stimulus check.

It is an extremely positive sign that there has been an increase in the demand for workers and also that the Americans are getting their jobs back. It negates the need for 4th stimulus check, believes a majority of politicians. President Biden mentioned that the fall in unemployment was the fastest even during his presidency from 6.4% when he took office in January 2021.

Finally, given the Ukraine crisis and rising gas prices, it is no longer a priority for political parties.

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