AS Americans enjoy an influx of hard currency from a third round of IRS stimulus payments, there are hints that a fourth round of checks could be cut.
White House press secretary Jen Psaki said another round of “direct payments” was contingent on Congress.
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“We’ll see what members of Congress propose, but those [payments] are not free,” said Psaki.
Psaki pointed to other ways Biden’s administration is helping to ease the pain of the pandemic’s aftermath.
She called the “historic extension” of the Child Tax Credit allotting families with kids a crucial reprieve by collecting thousands of dollars in write-offs for younger and older kids.
But more may need to be done.
“Obviously, we’re continuing to evaluate what their needs are to continue to get the pandemic under control, put people back to work,” Psaki said.
The third batch of stimulus checks are part of President Joe Biden’s American Rescue Plan where $385billion has been allocated out of $1.9trillion to help staunch the financial bleeding brought on by the coronavirus pandemic.
The latest round of payments for the eligible recipients is $1,400.
That’s up from the first two packages that started at $600 and leaped to $1,200.
As more money is cushioning American bank accounts for basic necessities and overheads, there are many Americans still waiting on Uncle Sam for their first two stimulus checks.
One way to secure the benefit of the missing Covid money is to claim the stimulus checks of either $600 or $1,200 as a tax credit.
Meanwhile, Biden announced on Monday that more relief was also being directed to the thousands of cash-strapped restaurants who were forced to wind down while the country was under a mandatory shutdown.
“Today, we’re sending out the first relief checks to 16,000 hard-hit restaurants with help for many more to follow,” Biden said, according to WGN TV.
“A lot more people are going to be employed.”
The efforts to buoy a large amount of the American population comes as Biden is also trying to get both of his $3trillion worth of relief packages through a Democratic majority Congress.
He has proposed the American Jobs Plan, which would modernize American infrastructure, bring forth more affordable housing and build the capacity for high-speed broadband in rural areas.
The American Families Plan includes cementing child tax credits, allocating more federal dollars to fund education and childcare, and ensure paid family and medical leave.
