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Economic Impact Payments, Number of Stimulus Checks Issued to Americans

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Stimulus Check along with IRS form from iStock.

All throughout the pandemic, the government has tried to help Americans cope with the financial burden of covid-19 and its restrictions. The most far-reaching of those programs was the three rounds of stimulus checks, which increased unemployment compensation and enhanced the Child Tax Credit.

Stimulus Checks Distributed

According to AS News, 2021 began with an overhaul of the White House, as Vice President Biden was sworn into office, bringing with him an ambitious legislative proposal known as the American Rescue Plan. During the run-off election for the Senate in Georgia last January, Democrats promised to pass a $2,000 stimulus check if they won the election.

The report also stated that following the elections of two Democrats, Rev. Raphael Warnock, and Jon Ossoff, the Democratic Party asserted unified control in Washington, granting them greater legislative flexibility.

The fact that Biden’s ideas contained a stimulus check worth just $1,400, which he explained as a top-up on the $600 stimulus checks signed by President Trump the month before, bringing a total of $2,000 in stimulus funds

The third stimulus check payment allowed Biden to quickly pass the entire American Rescue Plan and begin distribution. By June, the IRS claimed 163.5 million payments totaling over $390 billion had been made.

Fourth Stimulus Check

According to MSN, deliberations of a fourth stimulus check have all but vanished from the halls of Congress, despite the fact that some groups continue to advocate for increased direct stimulus assistance to American families.

In the face of an even more transmissible Omicron variety, vaccinations have continued to rise, with the United States currently administering the third dosage to persons 16 and older in response to the outbreak.

However, despite the ongoing interruptions, the country’s economy is continuing to recover from the pandemic, thanks to the lifting of regulations that have benefited both local and national enterprises alike.

As per the report, the unemployment rate has reached a new low, and businesses are still having difficulty attracting enough employees. All of this good news is terrible news for people who are still trying to keep their heads above water in the wake of the outbreak, which is still wreaking havoc two years after it began.

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