![]() Some families received another form of stimulus aid when the IRS in July deposited the first of six monthly cash payments into bank accounts of parents who qualify for the Child Tax Credit (CTC). Instead, the American Rescue Plan authorized one-time payments of up to $1,400 for each eligible adult and dependent. A separate effort from Democratic lawmakers in January 2021 pushed for $2,000 monthly checks until the pandemic ends. senators doesn't specify how large are the recurring payments they are seeking. ![]() Florida and parts of Texas have authorized bonuses for teachers to help offset the impact of the pandemic. ![]() That effort will provide $600 for low- and middle-income residents who have filed their 2020 tax returns. About two-thirds of California residents are likely to qualify for a " Golden State Stimulus" check via a new effort from Governor Gavin Newsom. Meanwhile, some states are creating their own form of stimulus checks. Many Americans pour stimulus money into stock market 04:37 But even with the 5.9% cost-of-living increase that goes into effect January 2022, many seniors will still fall behind inflation, which jumped 6.8% in November. Rising inflation in 2021 far outpaced the 1.3% benefit increase that Social Security recipients received at the start of that year. ![]() As of December, more than 95,000 people have signed a petition from the Senior Citizens League, an advocacy group for older Americans, to provide a one-time $1,400 check to seniors. Some advocates are urging lawmakers to advance new stimulus efforts, including for one group in particular that has been hard-hit by rising inflation amid the pandemic. Indeed, almost 3 million people have signed a petition started last year that calls on lawmakers to pass legislation for recurring $2,000 monthly payments. Those checks - which provided up to $300 per eligible child - won't continue in 2022, as the Build Back Better Act, which included a one-year extension of the program, failed to progress due to opposition from Senator Joe Manchin, a Democrat from West Virginia.įor many people, in short, stimulus aid is long gone, an issue that is on the minds of many Americans who continue to struggle with joblessness and a weak labor market. More than one-quarter of Americans struggled to pay their household expenses in the previous week, according to new data from a Census survey that polled people during the first two weeks of December.Īt the same time, fiscal support for more than 30 million American families ended last month, with the final payment from the Child Tax Credit landing in bank accounts on December 15. So far, the federal response to the economic crisis caused by the coronavirus pandemic has paid out $3,200 to eligible adults: $1,200 under the Coronavirus Aid Relief and Economic Security Act in March 2020 $600 in a December relief measure and $1,400 under the American Rescue Plan, signed in March by President Joe Biden.ĭespite that financial assistance, millions of Americans remain in financial distress, and the spread of the Omicron variant is creating new economic headwinds. But some advocates and lawmakers are pushing for a fourth round of stimulus aid that would effectively send recurring payments until the pandemic ends. The IRS issued more than 169 million payments in the third round of direct stimulus aid, with the $1,400 checks reaching most American households. Millions of Americans officially lose pandemic unemployment aid 05:49
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