The Fourth Round of Stimulus Checks Will be Worth $600. Who Will Receive It?
As the COVID-19 pandemic continues to have an impact on people’s lives, several Americans have signed a petition calling for a fourth stimulus check to be made available. While the possibility of a fourth stimulus check for Americans appears remote, a specific set of people may be eligible for further assistance.
The Biden administration just announced that a select set of Americans will receive an additional $600 in assistance. In other words, who qualifies for this financial assistance? Beneficiaries of SSI (Supplemental Security Income) will they receive a check?
Some employees will receive a fourth stimulus payment.
In September, U.S. Agriculture Secretary Tom Vilsack stated that a fourth stimulus check payment would be sent to select American families in the coming months.
Workers in the meatpacking industry, farmworkers, and store personnel who were particularly heavily struck by the COVID-19 outbreak will be eligible for awards of up to $600 per individual. Employees in these businesses will benefit from a $700 million initiative that has been authorized to provide financial assistance.
Read More: CEOs of Target, Kroger, and Best Buy Calls on Congress for Help as Fraudsters Keep Selling Off Their Goods
Exactly how the monies will be allocated is not clear, however up to $20 million has already been designated for distribution to grocery shop staff.
The financing was initially approved under the terms of the American Rescue Plan Act, which was signed into law by the Biden administration in March. However, instead of the federal government, it is believed that state agencies and tribal governments will be responsible for making the payment this time.
Stimulus check from the IRS.
During the third round of direct stimulus funds, the Internal Revenue Service has made more than 169 million payments, with more than 2 million individuals receiving $1,400 checks in July alone.
In response to the economic crisis brought on by the COVID-19 pandemic, the federal government has given out $3,200 to eligible adults who met the eligibility requirements.
This includes a payment of $1,200 made under the CARES Act in March 2020, a payment of $600 made under a December relief measure, and a payment of $1,400 made under the $1.9 trillion American Rescue Plan, which was approved by President Biden in March 2021.
While some lawmakers are pressing for the fourth wave of stimulus cheques, which would essentially serve as regular payments until the COVID-19 outbreak is finished, others are opposing such a measure.
Tax reductions will be provided under the President’s Build Back Better Agenda for all families with and without children. The plan extends the American Rescue Plan’s enhanced Child Tax Credit and Earned-Income Tax Credit, which will help millions of people and reduce child poverty by nearly half, according to the Congressional Budget Office.
Petition for the implementation of a fourth stimulus check
There has been a petition circulating on the internet calling for a fourth stimulus payment to be made. As of September 29, the petition had received 2.9 million signatures and was still growing. Unfortunately, there will not be a fourth check in the near future.
Anyone who receives Social Security benefits for disability, retirement, or SSI will be eligible to receive a fourth stimulus check if it is authorized.
It’s possible that Social Security payouts for seniors will increase next year. Because of growing inflation and gas costs, the cost of living appeared to have increased by the largest percentage in history, at 6 percent.
Meanwhile, numerous states across the United States are attempting to provide an additional economic boost to their inhabitants during these difficult economic times by increasing their tax revenues.
Given California’s budget surplus as a result of its tax structure, the Golden State Stimulus is the only state to have sent out a stimulus check from its own money. The Golden State Stimulus was funded entirely by state revenues.
Read More: Inflation Not Reflective of Economic Realities, Says Biden
The program provides a cash grant of $500 or $600 to residents with annual incomes ranging from $30,000 to $75,000, as well as an additional $500 for households with dependent children. It was announced by the state administration that social security recipients would not be eligible for the stimulus payment, even if it was their only source of income.