The majority of America has received approximately 3 stimulus checks by now. It is expected that a fourth stimulus check is on its way. The checks were given to support the families and recover from the damage caused by the pandemic.
The fourth stimulus on its way
The first stimulus check was received in early March, and a huge amount of $1,200 per family was distributed. The second check of $600 was given in the month of December 2020. The third check was huge, and people got more than $1,400. This check was given in March 2021.
Americans received money from other funds also during the era of a pandemic. Huge amounts of $300 were given to children to help them study and keep on with their schools and colleges. People are still recovering from the loss due to the pandemic, and after the third wave, everyone out there was expecting that the government would issue another stimulus check. However, Congress seems to dislike the idea of another stimulus; hence the situation looks tight.
The proposal regarding tax payment extension for children rejected
According to theunionjournal, Biden’s proposal to extend the tax payment for children was also rejected by the senate. This might increase the trouble for Americans. Sen. Mitt Romney also introduced the new payment method during the period. This payment method comes under the Family Security Act. It will permit $350 every month to the families who need the money. The families who have children from ages 0-5 will get the benefit out of this plan. The families who have children in the age group from 6-17 will get an amount of $250 via the stimulus check. Even the parents who are expecting a baby will get a stimulus accordingly.
The maximum money that a family will get with this plan will be $1,250. The government is focusing on helping the affected families from the covid-19 pandemic. The stimulus is completely based on the requirement of the family, and hence if you also fall under the given category, then you can also get the payment. The joint and single filers will get a reduction in the , and the stimulus will get reduced by $50.