What’s the latest on a 4th stimulus payment, $ 2,000 check petition, and relief money for 2021?

While stimulus checks during the pandemic have been well received, that doesn’t mean Congress is considering another. Next week, around 36 million eligible families are expected to receive their first monthly advance payment of up to $ 300 per child with 2021 child tax credit, which will bring immediate relief. But the one in June bipartite infrastructure agreement did not include extra money for individuals or families.

While some lawmakers had called for more stimulus aid in the spring, many in Washington now argue it’s less of a priority due to signs of an economic rebound – like new unemployment claims falling to its lowest since last year. At the same time, calls for more pandemic relief are gaining public support. With more than 2.5 million signatures, a Change.org petition Says: “The true unemployment rate for low-wage workers is estimated to be over 20% and many people are facing large debts over the past year for things like utilities, rent and child care. children. “

So what does this mean for the future of a fourth stimulus check? We will explain it to you below. On other money matters, the federal child tax credit expansion gives parents the option of receiving monthly checks this year or a lump sum of up to $ 3,600 per child in 2022. Here’s how check your tax refund if you have not yet received it and what to know about the unemployment tax relief. We continue to update this story.

What to Know About the Petition for Outstanding $ 2,000 Checks

Current Change.org petition which has collected more than 2.5 million signatures is calling on Congress to send out a fourth stimulus check of $ 2,000 for adults and $ 1,000 for children on a monthly recurring basis for the remainder of the pandemic. The petition notes that “the recovery has not reached many Americans” and stresses the need for immediate checks and recurring payments so that “we can keep our heads above water.”

According to a recent study, the first three stimulus checks made it possible to reduce difficulties such as food shortages and financial instability. So far during the pandemic, eligible adults have received a maximum of $ 3,200 and children have received $ 2,500. For many struggling families, this is not enough to recover from lost wages and benefits. As the Change.org petition is poised to become one of the most popular on its website, whether it will have any effect is another question.

What to know about the stimulus money proposals this year

Since American rescue plan became law in March, the White House proposed two packages – the US Jobs Plan and the US Family Plan – neither of which called for more stimulus aid. On June 3, a White House press conference said efforts would focus on the infrastructure spending program. President Joe Biden is “open to a range of ideas” regarding stimulus aid, White House press secretary Jen Psaki said, but he has already put forward what would be “the most effective in the short term”.

The new reduced compromise of the bipartite agreement on infrastructure, which the White House announced on June 24, does not include anything related to “human infrastructure” – it does not deal with childcare, better wages or vocational training. At the same time, the announcement states that “President Biden remains committed to the comprehensive agenda set out in the US plan for jobs and the US plan for families.”

It’s been a few months since Democratic members of the House and Senate pleaded for yet another stimulus check. In late March, a group of lawmakers asked Biden to include regular stimulus payments in its next stimulus package. In May, several members of the House Ways and Means Committee made a similar request. Citing rising poverty and skyrocketing debt among Americans, they noted that “most people spend relief checks on monthly expenses or on essentials such as food, utilities, rent and mortgage payments “.

What you need to know about the relief money that has been approved

The American Rescue Plan Act of 2021 in March contained three types of direct payments to individuals:

Stimulation controls: Stimulus payments up to $ 1,400 has been paid to those who meet the requirements. There is also money that goes to some people in the form of “plus-up” payments .

Child tax credit: A temporary extension of the child tax credit for 2021 sends eligible families up to $ 3,600 for each child – you can calculate your total child tax credit here. These monthly partial payments, which begin this month, will last until the end of the year, with a final payment in 2022.

Federal unemployment premium: A weekly Unemployment premium of $ 300 has been extended until September 6, as has pandemic unemployment assistance to workers and freelancers (the self-employed). However, more than half of state governments have since chosen to withdraw from extended benefits by September 6, millions of unemployed Americans in these states were therefore cut off from these funds by mid-June.

Could Washington allow more money in general?

There is a lot to consider when evaluating the future of family stimulus assistance. The White House could put extra money in Americans’ pockets in the following scenarios:

If this makes the increase in the child tax credit permanent: Expansion money child tax credit is expected to start next week with monthly payments to low and middle income families with children. In a July 7 speech on the Build Back Better for Working Families program, Biden called for extend the expanded child tax credit until 2025. Other aspects of the American Families Plan related to health care costs and medical leave have yet to be negotiated.

If he passes a minimum wage hike: Some senators continue to look for ways to increase the federal minimum wage, which is $ 7.25 an hour. Some supporters want to set the bar at an hourly wage of $ 15 an hour, and others seek to raise it only to $ 11 an hour. In recent years, many states, towns and businesses have implemented higher minimum wage increases at the federal level. However, discussion of a new national rate of $ 15 an hour has run into a hurdle in recent months, and the likelihood of its passing anytime soon is low.

If he renews federal unemployment premiums beyond fall: Some lawmakers initially called for federal unemployment assistance to extend beyond Labor Day. However, dozens of states have already cut extended benefits early and improved unemployment relief is unlikely to continue beyond the expiry date in other states. On June 4, Biden reported that the temporary increase in unemployment benefits should expire early September as expected.

In the meantime, here’s what to do if there is a problem with your dunning check. And here’s what we know about the new IRS portals this will help you get cash through the child tax credit checks which start on July 15th.