IRS Stimulus: Could a Fourth Check Be Coming Soon?

by Clayton Edwards

The pandemic put a damper on America’s economy in 2020. As a result, Americans received three rounds of stimulus checks. These checks helped to keep many citizens above water. At the same time, they helped to boost the economy in many areas. Most of our economy is directly linked to consumer spending. So, those who were still financially stable throughout the pandemic had a little more spending power. This gave the economy a shot in the arm in some areas.

Many areas of the country have rolled back COVID-19 restrictions. So, things have slowly started to go back to normal. However, many Americans fear a second shutdown due to the Delta variant of COVID. After all, even those who have taken the vaccines are vulnerable to the new variant. At the same time, some sectors have seen little to no economic recovery in recent months, according to CBS Philadelphia. So, some people are starting to wonder if a fourth round of stimulus checks are coming.

In fact, most Americans agree that continued government assistance would be good for the country. In a poll from Data For Progress two-thirds of Americans supported further stimulus checks. However, they said they were in favor of $2,000 monthly stipends. Americans from across the political spectrum supported the initiative.

American citizens aren’t the only ones who have a fourth round of stimulus checks on their minds. In fact, the House Ways and Means Committee started pushing for two more rounds of payments back in May. They said that the first $1,400 checks earlier this year helped to keep 11 million people out of poverty. The committee stated that two more rounds of payments could bring that number up to 23 million.

So, Will There Be a Fourth Round of Stimulus Checks?

In short, probably not. However, the support from citizens as well as lawmakers keeps the possibility alive but unlikely. There are a number of reasons for this. 

For one, the vaccination rate among Americans is climbing steadily. All citizens 12 and over are eligible for free shots in all fifty states. At this time, over half of the total population is fully vaccinated. Despite widespread opposition, the rate is growing with about half a million citizens lining up for the jab every day. This allows many people to go back to their normal lives. These people are in less need of stimulus checks.

As a result, the economy, as a whole, is seeing recovery. In fact, wages are going up in many industries to attract more Americans back to the workforce. So, unemployment numbers are going down. They haven’t reached pre-pandemic levels just yet. However, it is only a matter of time.

So, another stimulus check is unlikely. However, parents of children seventeen and under are currently receiving up to $300 per month for each child.