Update on the Stimulus Package: Which COVID-Era Programs Will Continue in 2022?

Over two years have passed since the COVID-19 virus raced through the United States, causing economic upheaval and promoting the implementation of several federal stimulus programs to assist struggling individuals and businesses.

Many of those applications have reached the end of their usefulness and are no longer available, but a few are still available.

Federal stimulus funds and the expanded Child Tax Credit are two examples of schemes that have fallen by the wayside. While there has been recent speculation that stimulus payments may be reinstated as a result of the Omicron version, many experts are skeptical that this would be the case.

Also improbable is the approval of a new round of enhanced CTC payments, which were last made on December 15 and have not yet been approved by Parliament.

For the same reason, Americans who received an additional $300 in weekly jobless benefits during the epidemic will not be receiving that amount again, according to WCNC in Charlotte. The program was phased out by the Labor Department in the fall of 2017.

Read More: China Reports Walmart’s Security Flaws as Serious

However, there are two programs from the COVID era that will continue, at least for the time being. One of them is the suspension of payments for Americans who owe money on federal student loans.

The Department of Education announced on December 22, 2021, that the student loan payment suspension would be extended until May 1, 2022. It was originally scheduled to expire on January 31.

According to the Federal Student Aid Office of the Department of Education, the halt includes the following relief measures for qualified student loans:

  • A suspension of loan payments is in effect.
  • A 0% annual percentage rate of interest
  • Collections on past-due debts have been halted.

The Supplemental Nutrition Assistance Program (SNAP) will continue to offer greater benefits, which is another program that will be maintained. Those benefits were scheduled to expire at the end of September, according to FingerLakes 1 news.

However, these 22 states have agreed to continue paying them on a monthly basis (check with your state’s proper agency to find out how long the additional benefits will be in effect).

  • Alabama
  • Georgia
  • Hawaii
  • Illinois
  • Iowa
  • Kentucky
  • Maine
  • Maryland
  • Michigan
  • New Jersey
  • North Carolina
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • River Island
  • South Carolina
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming
Leave A Reply

Your email address will not be published.