Stimulus Check: What will the fourth round of aid look like?
Washington (WJW)-Some lawmakers are pushing for the easing of the fourth round of stimulus measures, but experts say that not all people previously eligible for coronavirus assistance will receive the benefits of the stimulus measures.
Several Democrats are urging President Joe Biden to include regular stimulus payments in future legislation. According to a report in Newsweek, Biden has received three letters from Democratic congressmen asking them to provide more relief. According to reports, all three letters advocated multiple rounds of stimulus checks until the economy rebounded.
Although the details of any potential reductions are still uncertain, experts say that future stimulus payments may be based on people’s 2020 tax returns. The last round of inspections was based on 2019 returns.
This means that anyone who sees a salary increase in 2020 and raises their income above the income threshold will not be paid.
At the same time, financial experts are thinking about what kind of assistance Americans can get through continued pandemic relief. According to Yahoo! financial, There are four possibilities on the table-regular stimulus payments, minimum wage increases, permanent increases in the child tax credit, and renewal of federal unemployment benefits.
Some senators are keen to make regular payments during the pandemic, while others want to increase the minimum wage from $7.25 an hour to $11 or $15 an hour.
White House Press Secretary Jen Psaki said Biden hopes to permanently expand the child tax credit.
In addition, it is reported that 10 senators have written a letter to the president asking him to extend federal unemployment assistance beyond the September due date.
Watch the video above to get more information about unemployment assistance expansion.