As the economy improves, the president is less likely to extend the payment pause on student loans beyond September 30, 2021. The same holds true for student loan cancellation. As unemployment numbers drop, the stock market stabilizes, businesses reopen, consumer spending increases, and travel resumes, Congress and the president will be less likely to support further economic relief. For those hoping for more stimulus checks, an improving economy hurts chances for further direct economic payments. Having helped lead America’s economic resurgence after the 2008 financial crisis, Biden wants to help America heal from the Covid-19 pandemic. If the economy improves, the need for stimulus checks may declineīiden is focused on economic recovery. That said, the Senate parliamentarian has granted Democrats limited use of the budget reconciliation process before year end - but Democrats will be selective on which policy priorities to include, which may not include stimulus checks.ĥ. This includes any proposal for $2,000 stimulus checks, or even a fourth stimulus check. Joe Manchin (D-WV) said he won’t support any efforts to overturn the requirement of 60 votes to pass legislation in the Senate, which potentially could hamper Biden’s policy agenda and Democrats’ ability to pass legislation through budget reconciliation.
This strengthens Republicans’ ability in the Senate to delay legislation proposed by Democrats. After weeks of debate, the filibuster won’t be going away any time soon. The Senate is split 50-50, and Vice President Kamala Harris has a tie-breaking vote. Filibuster rule hurts chances for another stimulus check While vaccinations don’t provide financial relief like stimulus checks can, they provide a potential pathway for businesses to reopen, which can create jobs, and for consumers to spend more in the economy.Ĥ. As more Americans get vaccinated, there is a higher probability that the Covid-19 pandemic ends sooner. The Biden administration is intently focused on vaccine distribution and getting more Americans vaccinated. This also makes it less likely that non-infrastructure spending provisions such as stimulus checks would likely be added. The infrastructure package also already includes non-infrastructure spending (such as higher pay for healthcare workers), some of which Biden and congressional Democrats will need to amend to gain support for a final bill. While stimulus checks provide immediate cash, they don’t create jobs.
The infrastructure package is focused on job creation. While it’s possible that a fourth stimulus check could be added to the infrastructure package, it’s unlikely. Biden hasn’t indicated publicly that he supports any further stimulus checks, and he has not responded to Omar’s letter from January that urged him to support more stimulus checks. Unlike the last stimulus package, this new $2 trillion stimulus package does not include a stimulus check. Biden focused on infrastructure package, not stimulus checksīiden is focused on passing his proposed infrastructure package - the American Jobs Plan - in Congress.
#WILL THERE BE ANOTHER STIMULUS CHECK IN APRIL 2021 UPDATE#
The update today applies to Social Security retirement, survivor or disability (SSDI), Supplemental Security Income (SSI), and Railroad Retirement Board (RRB) beneficiaries who did not file a 2019 or 2020 tax return or did not use the Non-Filers tool.2. Many federal beneficiaries who filed 2019 or 2020 returns or used the Non-Filers tool last year were issued Economic Impact Payments, if eligible, during the last three weeks. Because the majority of these payments will be disbursed electronically – through direct deposits and payments to existing Direct Express cards – they would be received on the official payment date of April 7. If no additional issues arise, the IRS currently expects to complete that work and to begin processing these payment files at the end of this week. As work continues on issuing millions of Economic Impact Payments to Americans, the Internal Revenue Service and Treasury Department announced today that they anticipate payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not normally file a tax return, with the projection that the majority of these payments would be sent electronically and received on April 7.Īfter receiving data from the Social Security Administration on Thursday, March 25, the IRS began the multi-step process to review, validate, and test tens of millions of records to ensure eligibility and proper calculation of Economic Impact Payments.
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