According to White House Press Secretary Jen Psaki, President Joe Biden is “happy to hear a range of ideas” when it comes to improving the US economy.
Many Democrats are pushing for a fourth (and even a fifth) round of stimulus checks. While the President would be open to this possibility, many wonder when greater economic relief will come. In the meantime, here’s a timeline of when you might see more raise money.
Just a few weeks ago, Psaki told reporters that Biden was open to ideas to improve the economy. “He’s happy to hear a range of ideas on what would be most effective and what is most important for the economy in the future,” Psaki said.
“But he also came up with what he thinks is the most effective in the short term to get people back to work, to get through this pivotal period and also to make us more competitive in the long term,” she continued. .
The last on the fourth round of dunning checks:
Yet progressive Democrats are pushing the president to provide Americans with more stimulus money. Recently, more than 80 Democrats banded together and wrote two letters to the president to campaign for more economic relief.
In one of the letters, he allegedly claimed that a fourth and fifth round of stimulus checks would keep 12 million Americans out of poverty.
While acknowledging the success of the US bailout, Congressman Jimmy Gomez also said it was not enough relief for Americans in a letter to the White House.
“The success of the US bailout, combined with direct financial assistance under the CARES Act and previous federal legislation, is evident in communities across the country,” Gomez said in the letter. “But we cannot claim that a check for $ 1,400 will be enough for a year, and we must prepare with a stronger safety net if a similar economic crisis were to occur again.”
Democrats aren’t just pushing for more stimulus checks, they are pushing for automatic payments for Americans.
“Tying recurring direct cash payments and federal unemployment benefits to the economic conditions of the country not only makes sense, but it also shows the American people that their government is ready to help them in the event of another economic disaster,” added Gomez. “I look forward to working with President Biden to ensure that we can provide these two vital economic stimulus tools to uplift all working Americans and their families.”
While the conversation about more stimulus payments is still in its infancy, the Biden administration is working on two new economic relief bills: the US Jobs Plan and the US Family Plan.
American plan for employment: “the President’s plan will unify and mobilize the country to meet the great challenges of our time: the climate crisis and the ambitions of an autocratic China. It will invest in Americans and provide the jobs and opportunities they deserve. But unlike past major investments, the plan prioritizes tackling long-standing and persistent racial injustice. The plan targets 40 percent of the benefits of climate and clean infrastructure investments to underprivileged communities. In addition, the plan invests in rural communities and communities affected by the market-based transition to clean energy. Specifically, President Biden’s plan goes: “
The US plan for families is “to grow the middle class, extend the benefits of economic growth to all Americans, and leave the US more competitive, President Biden’s US Family Plan:”
Both plans are in preparation for this year but do not yet have specific dates to go through Congress. Therefore, the plan for more stimulus payments has not yet been given a date.
While the fourth round of stimulus checks has not been approved and is not even officially part of the Biden administration’s plans, there are other ways Americans are still receiving stimulus money.
More stimulus checks from the US bailout:
The IRS continues to deposit and send stimulus checks to Americans. Just last week, the government sent out 2.3 million stimulus checks, three months after millions more began receiving the money.
Others may receive more money because they did not receive the correct or total amount from previous rounds of stimulus checks. This is called premium payments, to which millions of Americans are currently receiving their corrected amounts of money.
The child tax credit:
Parents with eligible co-dependents will receive the child tax credit. The credit will begin on July 15 and will continue in monthly installments until December.
Here’s who is eligible, according to the IRS:
Extended credit means:
• Credit amounts will increase for many taxpayers.
• The eligible child credit is fully refundable, which means taxpayers can claim the credit even if they have not earned income or have no tax payable.
• The credit will include children who turn 17 in 2021.
• Taxpayers can receive part of their credit in 2021 before filing their 2021 tax return.
For the 2021 tax year, families applying for the CTC will receive up to $ 3,000 per eligible child aged 6 to 17 at the end of 2021. They will receive $ 3,600 per eligible child under age 6. at the end of 2021. Under the previous law, the amount of the CTC could reach $ 2,000 per eligible child under the age of 17 at the end of the year.
The increased amounts are reduced (phased out) for income over $ 150,000 for married taxpayers filing jointly and eligible widows or widowers, $ 112,500 for heads of households and $ 75,000 for all other taxpayers.