Actualizado 10/08/2022 - 03:25 CDT Show
Inflation has dealt a hard blow to US citizens, many of whom are struggling to make ends meet as groceries and gas prices have skyrocketed this year. Russia's invasion of Ukraine hasn't helped either and older Americans are desperate for some help from the government through a potential fourth stimulus check. The online petition for a fourth stimulus checkA Denver restaurant owner has created an online petition on Change.org, asking the US congress to provide people with monthly stimulus checks. The petition has collected as many as three million signatures for the time being. "Our country is still deeply struggling," reads the description. "The recovery hasn't reached many Americans - the true unemployment rate for low-wage workers is estimated at over 20 percent and many people face large debts from last year for things like utilities, rent and child care. "I'm calling on Congress to support families with a $2,000 payment for adults and a $1,000 payment for kids immediately, and continuing regular checks for the duration of the crisis. "Otherwise, laid-off workers, furloughed workers, the self-employed, and workers dealing with reduced hours will struggle to pay their rent or put food on the table." Will there be a fourth stimulus check?A non-partisan advocacy group called Senior Citizens League has been demanding that the government issue a one-time $1,400 stimulus check for Social Security beneficiaries. "We have received hundreds of emails from people concerned about making ends meet," Senior Citizens League's Shannon Benton told The Sun. "The high cost of living adjustment, for many, just exacerbated their financial woes by bumping their income above program limits to qualify for Medicare savings programs and extra help." After the original stimulus checks, some lawmakers did push for another stimulus check, but the social spending plan stalled in Congress in late 2021. Congress has not been planning to provide beneficiaries with stimulus money. However, this could happen in the event that the US experience an even tougher financial crisis. This device is too smallIf you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience. Skip to main contentEditorial Disclosure We have not reviewed all available products or offers. Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation.
Image source: Getty Images Having this knowledge will help you better understand the chance for more federal stimulus. Key points
During the heart of the COVID-19 pandemic, stimulus checks provided an important lifeline. The money that was deposited into people's bank accounts helped to ensure that those who had to stop working or had to cut back hours were able to still afford to cover their essential costs. Many people are still feeling the effects of the pandemic though. So, will a fourth stimulus check be coming soon? Here are five facts you must know to help you answer that question. 1. Federal stimulus checks won't be coming before the electionThe current Congress is not going to provide another stimulus check. The last payment, authorized by the American Rescue Plan Act, was passed along party line votes through a special process called reconciliation. There is no further opportunity to pass legislation this way until after the election, and there is not broad enough support to get a bill through that would authorize a fourth payment. 2. Worsening economic conditions would likely be necessary for another stimulus checkIt is unlikely in the current economic climate that a fourth payment would be authorized even if there is a change in the makeup of Congress. There are no widespread lockdowns right now, and because of high inflation, many lawmakers are reluctant to pump more money into the economy which could make inflation worse. 3. Parents are more likely than non-parents to get more stimulus money from the federal governmentAlthough there's little appetite in Washington D.C. for a fourth stimulus check to be distributed to everyone, there is some bipartisan support for an expanded Child Tax Credit. The last stimulus bill, the American Rescue Plan Act, made more money available to parents by changing the current rules for the existing Child Tax Credit. Parents were eligible to receive up to $3,600 for children under age 6 and up to $3,000 for kids aged 6 to 17. While Republicans aren't in favor of doing exactly what the American Rescue Plan Act did for parents, those on the right have put forth various proposals to also expand this tax credit. And there's broad support on the left for more financial help to parents. 4. Almost half of all states are sending stimulus checks or have done so alreadyYour best chance for a fourth stimulus check is to get one from your state. Almost half of states across the U.S. have issued payments or will soon do so. The rules for when you become eligible vary depending where you live, so check with local officials to find out if a payment is due. 5. You may still be owed money from the last paymentsFinally, you could potentially get another stimulus payment if you did not receive all of the money that was owed to you from prior stimulus payments. The stimulus checks were advances on a tax credit, so you can file a tax return to claim your money. If you didn't file a 2020 or 2021 tax return and it turns out you should have done so to get a stimulus payment, you can still submit a return even though the deadline has passed. If you didn't owe any money, you won't owe late filing penalties (penalties do apply if you were supposed to file and pay taxes but you didn't). Understanding these key stimulus facts should help you determine if another check is likely to come from the federal government or from your state. Alert: highest cash back card we've seen now has 0% intro APR until 2024If you're using the wrong credit or debit card, it could be costing you serious money. Our expert loves this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. In fact, this card is so good that our expert even uses it personally. Click here to read our full review for free and apply in just 2 minutes. Read our free review About the AuthorChristy Bieber is a personal finance and legal writer with more than a decade of experience. Her work has been featured on major outlets including MSN Money, CNBC, and USA Today. Featured ArticlesAre we getting a stimulus check in 2022?The rebate was issued in July and sent automatically to taxpayers who filed a 2021 state return. Another rebate was issued to all taxpayers. Single filers received $500, and joint filers received $1,000. This rebate was split into two equal payments, delivered in June and August 2022.
Are we getting a 4th stimulus check?It is unlikely that there will ever be a fourth stimulus check as stimulus payments are no longer being issued by law as of December 31, 2021. These payments were to be issued on the tax return information the IRS had on record for you.
Are we getting a stimulus check in August 2022?Additionally, all taxpayers who filed a 2021 return were slated to receive $500, or $1,000 for joint filers, heads of household and surviving spouses. These payments were divided into equal amounts payable in June 2022 and August 2022.
Is there going to be a fourth stimulus check in July?As of July 2022, the federal government doesn't appear to have any plans to send a fourth stimulus check to all U.S. residents.
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When will we get a fourth stimulus
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