Hoping for another round of stimulus checks?
President Joe Biden is expected to reveal details this week of a new spending plan that could set aside more money for struggling Americans.
As the IRS continues to distribute the pandemic’s third stimulus checks, for up to $1,400 each, the outcry is building for the government to provide Americans with a fourth payment — and possibly more.
Advocacy groups and congressional Democrats have been ratcheting up the pressure on Biden to support not only a fourth stimulus check but regular cash payments until the COVID crisis is over.
“Families shouldn’t have to worry about whether they’ll have enough money to pay for essentials in the months ahead as the country continues to fight a global pandemic,” around 20 Democratic U.S. senators told Biden in a letter calling for recurring payments.
Most people used their recent $1,400 checks for essentials including food and bills, according to a new analysis of census data from the nonprofit Economic Security Project.
That’s been typical. The U.S. Bureau of Labor Statistics found last year’s first stimulus checks were largely spent on the basics, though some people saved or invested the money, or used it for other spending. That may have included buying affordable life insurance — demand for policies has surged amid the pandemic.
The president’s speech Wednesday will offer clues
Is the president open to the idea of a fourth stimulus check, and possibly more after that? He may give an indication during a major address to Congress and the nation Wednesday night.
In the speech, Biden will unveil a $1.8 trillion proposal the White House is calling its “American Families Plan.” It will include funding for education, child care and paid family leave, according to multiple media reports.
To help families make ends meet, the bill would…
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