Lawmakers are urging the White House to approve a fourth stimulus check for Americans who are struggling financially. Some are proposing that future aid be connected to economic circumstances, which would imply that stimulus funds would be automatically deposited into bank accounts.
Two letters, signed by 26 Democrats, have been delivered to the White House and urges the implementation of "automatic stabilizers" for larger unemployment and stimulus checks. They claim that doing so will help avoid the partisan deadlock that hampered aid efforts during the COVID-19 pandemic.
These automatic stabilizers would assist legislators in avoiding negotiations for each relief package separately. However, the use of unemployment as a stabilizer is one option any economic indicator might apply.
Democrats continue to urge additional stimulus checks
With legislation that incorporates unemployment as an automatic stabilizer, a relief payment will occur if the number of unemployed Americans fell below a specified level. The aid will be immediately withdrawn if the unemployment rate rises over that threshold, as per GoBankingRates.
An increasing number of Democrats are pushing for additional financial assistance through one-time or periodic payments. President Joe Biden has not committed to a fourth payment, and neither does his most recent stimulus plans. Instead, tax incentives for child-care bills and other charges have been the priority.
However, many Americans believe that more stimulus money is required to assist individuals who continue to face financial hardship. Despite recent strong economic development - the economy grew at an annualized pace of 6.4 percent in the first quarter - many Americans remain in serious financial problems.
White House hints you may still be sent another payment
The White House suggested that it will consider a fourth stimulus check to aid struggling Americans in their recovery from the pandemic. More than 80 lawmakers, primarily Democrats, have already expressed support for a fourth and maybe fifth stimulus payment, as per The Sun.
Although no official proposal for further relief payments has been made, the Biden administration made optimistic remarks about the prospect this week. It comes three months after the third stimulus check was released and as Congress returns to work after the Memorial Day holiday.
On Thursday, White House press secretary Jen Psaki stated, "The President is open to a lot of ideas." She was questioned about the scores of members of Congress who previously urged President Biden to launch a fourth stimulus package.
Biden already suggested solutions that he feels would be the most successful in the short run, she said. It contains his latest infrastructure investment plans as well as the Americans Families Plan.
It comes after a huge Democratic effort and a jobs report showing that many Americans are still suffering financially as a result of the COVID-19 outbreak. According to the most recent employment statistics, 9.3 million individuals are now unemployed. It's still a lot more than the 5.8 million individuals who were unemployed before the outbreak started in February.
According to Yahoo Finance, recent research from the University of Berkeley discovered that over six million Americans owe close to $20 billion in overdue rent.
The amount of money that might be spent in a fourth stimulus check has yet to be determined. Members of the House and Senate have requested $2,000 stimulus checks each.
A $2.3 million signed internet petition has also asked for a $2,000 payment. Up to 80 members of Congress have not written to Biden requesting additional funds. It includes seven members of the House Ways and Means Committee, who say it could keep another 12 million Americans out of poverty.