Will there be a 4th stimulus check? How you could get more payments in 2021


Will Congress sign off on a fourth stimulus check? There’s a chance.

Sarah Tew/CNET

Another wave of stimulus checks are set to go out this week from the IRS, along with more “plus-up payments” for those who qualify for more money. But Congress is already looking ahead to the second half of 2021 and into 2022 for ways to send more money to individuals and families who continue to struggle through the pandemic. A fourth stimulus check is just one of the ideas Congress is considering that would send additional payments to those most in need once the current $1,400 stimulus payments run out.

In March, a group of 10 progressive senators, including Elizabeth Warren and Bernie Sanders, asked President Joe Biden to include regular stimulus payments (PDF) in his next stimulus bill: “We urge you to include recurring direct payments and automatic unemployment insurance extensions tied to economic conditions in your Build Back Better long-term economic plan.” A few weeks later, another group of 21 Democrats made a similar request to Biden.

The current stimulus checks will cause the economy to grow rapidly, economists say, but also unevenly, with some cities projected to hurt for “decades,” even with COVID-19 vaccinations on the upswing and the US economy showing glimmers of hope. Would more direct payments arrive in a different form, something other than a “stimulus check“? We spell out some possibilities below. If you’re waiting for your third stimulus check, here’s how to track your payment and here’s how to contact the IRS with a problem. Also here’s how to calculate your child tax credit. This story is frequently updated.

The next economic stimulus bill is in the works. Will it include a fourth check?

Biden’s American Rescue Plan that passed in March is the first spending package in 2021, with $1,400 checks$300 extra in weekly unemployment benefits and an expanded child tax credit lined up (see if you qualify for the recurring child tax credit payments). The Biden administration is working on a sequel, a package the president refers to as the Build Back Better plan. That proposal aims to invest in the nation’s energy grid, transportation, broadband and water systems and may not include stimulus checks, despite the urging of progressive senators (PDF).

(Note: There’s some debate over what counts as a “relief,” “rescue” or “stimulus” package. For the purpose of this article, “stimulus” refers to any funding, check or measure in response to the coronavirus pandemic or to inject money into the US economy.)

Now playing:
Watch this:

Stimulus check 3: How much money you’ll get


The new ‘stimulus payment’ could take a different form

The American Rescue Plan doesn’t authorize just one direct payment. It contains three checks designed to help struggling individuals and families. It’s possible a future bill could extend or introduce more money through direct checks that go to specific groups of recipients, including parents who earn below a certain income or people out of work.

Here are the three types of direct checks approved in the March 2021 bill:


Congress has already approved a variety of aid this year.

Sarah Tew/CNET

More ways Congress could send a direct payment this year

Approve recurring payments: Biden’s infrastructure bill is the next likely place for Congress to provide more funding. This is where Democratic Senators are calling on Biden to push for recurring stimulus checks during the pandemic.

Pass a minimum wage hike: Senators continue to look for ways to boost the federal minimum wage, which currently stands at $7.25 per hour. Sens. Mitt Romney and Kyrsten Sinema are the latest to pitch a hike. Some proponents want to set the bar at a $15 hourly wage but others are looking to go to $11 an hour. “If any senator believes this is the last time they will cast a vote on whether or not to give a raise to 32 million Americans, they are sorely mistaken,” Sanders tweeted on March 5. A February report from the Brookings Institute models how a $15 minimum wage could help make 37% of US households financially self-sufficient.

Make the child tax credit raise permanent: Money from the expanded child tax credit is set to start in July, sending periodic payments to lower-income and middle-income families with children. According to White House Press Secretary Jen Psaki, Biden wants to make the child tax credit permanent. Others, including Republican Sen. Mitt Romney, also support making the credit permanent since it will lift millions of children in the US out of poverty.

Renew federal unemployment payments beyond September: Along with recurring payments, the 10 Democratic senators in their letter to Biden requested he also extend federal unemployment assistance beyond September.

Here are all the ways the American Rescue Plan can help you, how much money you could expect in the third check and how to track your stimulus payment.

Source link