Is there more help from the federal government? | – Community News
Stimulus Check

Is there more help from the federal government? |

The effect of the pandemic is lasting much longer than previously expected. Newer variants have slowed down a total economic recovery and several sectors are still badly affected. while the vaccination campaign is in full swing, people are still economically affected by the recession caused by the pandemic. While the three incentive check payments were a blessing, people have long spent that amount and are hurting for more.

People continue to struggle to put food on the table or for rent and utilities and a 4 . to paye stimulus control will be of great help at this stage. But the federal government continues to work on the infrastructure bill and the social bill, and it’s up to the states to come up with incentives themselves.

– Advertisement –

Several states have sent incentive checks to their residents, aided by federal government funds. California was the first state with the Golden State Stimulus Check. But it remains to be seen whether the IRS will send another federal government stimulus check.

More than 169 million people received the 3rd stimulus check of $1,400 each. The total payment came in at about $422 billion. the American Rescue Plan’s checks were close to the $600 and $1,200 stimulus checks paid out in 2020.

The economic recovery rate has slowed again, indicating that stimulus is needed

There has been a major delay in the 3rd quarter, as it grew at a dismal annualized rate of 2% from the 6.7% growth seen in the 2nd quarter. While GDP has reached pre-pandemic levels, certain segments of the economy continue to suffer. The travel and tourism sector continues to be the most impacted by the pandemic. Savings are rising and the housing market is picking up due to lower interest rates.

– Advertisement –

But financial uncertainty remains high and many workers who have lost their jobs during the pandemic have yet to find an alternative.

But it is the shortage of food and the lack of rent and utilities that remain a concern. 20 million people reported food shortages (about 9% of the US population).

12 million tenants or 12% of citizens are in arrears in rent, while $46 billion in rental assistance has yet to reach beneficiaries. Employment figures also remain below pre-pandemic levels. About 267,000 workers filed for unemployment benefits this week.

The end of child tax credit payments will end almost all federal aid related to the pandemic and make it difficult for people in the US to support their families.

– Advertisement –