The Federal government granted billions in emergency aid to more families, students and working class Americans.
That Biden administration broke records job creation and keeps outstanding figures by recovering the deficit from the last administration.
Even when certain governors, like Greg Abbot, try to undermine and increase inflation problems by delaying the supply chain across the southern border, federal and state law seeks a fourth stimulus control to keep momentum caused by the economic recovery.
Americans can feel the high prices in grocery stores and at the gas station -even when oil prices fell drastically-.
That fourth stimulus check is far lower than all the relief the Biden administration has provided. However, the target is simple, which reduces the effect of inflation.
Experts believe that Americans living on paychecks need another relief effort to help them through inflation.
“The IRS reports that these payments were all around $ 15 billion a month and their sudden cessation may limit the recent booming consumption of food and other household items, “said Kelly from JPMorgan Funds.
It is the Biden administration, however does not plan to give a fourth stimulus check. The main reason is that a “cause of inflation has been an explosion of demand driven by the federal stimulus,” as Brad McMillan, Chief Investment Officer at the Commonwealth Financial Network.
Nevertheless, it is crucial to note it local authorities distributes specific plans and controls targeting high gas prices.
E.g, New mexico allocates money to each individual taxpayer by the state, which has already filed their tax returns to combat gas prices.
“Plans focused on specific sectors or groups, such as gas cards or disbursements based on income thresholds, could in theory help alleviate the pain caused by prices of specific goods or services,” said Andrew Patterson, senior international economist at Vanguard.