Three More Stimulus Checks Coming? Watch Biden's Speech Tonight.

Biden Speech Stimulus

Three More Stimulus Checks Coming? Watch Biden's Speech Tonight.

Known as the American Families Plan, the mammoth $1.8 trillion proposal may also set aside billions of dollars for millions of Americans who have struggled immensely over the past year due to the ongoing pandemic. Proponents of such stimulus checks are keeping their fingers crossed for a fourth, a fifth, or even a sixth round of direct payments.

 

The disbursement of the third round of coronavirus stimulus checks under the $1.9 trillion American Rescue Plan is nearing its end, as only about 15 percent of the payments have yet to be sent out.

With this in mind, all eyes will be on President Joe Biden on Wednesday, for he is expected to speak before Congress and outline his ambitious vision of boosting the economy and increasing funding for education, child care, and paid family leave.

 

Known as the American Families Plan, the mammoth $1.8 trillion proposal may also set aside billions of dollars for millions of Americans who have struggled immensely over the past year due to the ongoing pandemic. Proponents of such stimulus checks are keeping their fingers crossed for a fourth, a fifth, or even a sixth round of direct payments.

But know that currently, it is entirely unclear whether Biden will, in fact, include more stimulus checks. Those who are against offering more monetary assistance to Americans have pointed out the fact that Congress has already approved the delivery of three stimulus cash payments to most Americans—a $1,200 check in April 2020, $600 in December, and the current $1,400 payments.

Despite the opposition, it seems that it would be difficult for Biden to ignore dozens of Washington lawmakers and economists across the country who have been pushing the president over the past several months to quickly green-light recurring stimulus payments.

Late last month, Senate Finance Committee Chair Ron Wyden and twenty other Democratic senators urged Biden to include recurring direct payments in his “Build Back Better” legislation.

“We urge you to include recurring direct payments and automatic unemployment insurance extensions tied to economic conditions in your Build Back Better long-term economic plan,” the senators’ letter read.

“While we are pleased that the American Rescue Plan included a one-time direct payment and an extension of federal unemployment insurance programs, a single direct payment will not last long for most families. … This crisis is far from over, and families deserve certainty that they can put food on the table and keep a roof over their heads. Families should not be at the mercy of constantly-shifting legislative timelines and ad hoc solutions,” they added.

In addition, the senators cited recent polling data that revealed that a majority of Americans support recurring stimulus payments.

It appears that help can’t come fast enough for many Americans. According to research from the financial services firm TransUnion, four in ten Americans are still continuing to experience a loss of income compared to before the pandemic started more than a year ago.

“38 percent of U.S. consumers said their household income remains negatively impacted due to the COVID-19 pandemic. … While 5 percent of the population has thrived during the pandemic—reporting no income drop and better than planned finances—another 3 percent are devastated by reduced income and don’t think they’ll ever recover,” the report wrote.

 

Ethen Kim Lieser is a Minneapolis-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.