Site icon

Update on the Stimulus: More Payments Could Still Be Made!

Update on the Stimulus:

In reaction to the COVID-19 pandemic, Americans have received significant stimulus funds in recent years.

President Joe Biden signed the American Rescue Plan Act into law in March of 2021, providing tens of thousands of dollars to most individuals and families.

Last year, the funds were deposited into their bank accounts or sent via check. It came after a series of payments authorized by Trump’s administration and made during the outbreak.

This year, though, there has been no new federal support granted. Americans have been begging for more money in 2022, with millions of people signing an online petition urging that the stimulus payments continue.

While the federal government has so far declined to act, there’s a chance that will change soon as a result of inflation’s terrible effect on household budgets.

Some states are considering taking action to assist the people in areas where Washington, D.C. lawmakers have failed.

Is it possible that inflation will lead to greater stimulus payments?

Inflation has been increasing this year, hitting recent record highs and making it difficult for many consumers to make ends meet. Given the dramatic rise in the cost of basic needs, several lawmakers have already begun looking into ways to provide much-needed financial assistance.

Governor Tom Wolf of Pennsylvania, for example, advocated distributing $2,000 cheques to Pennsylvania households in a news release, stating: “Pennsylvanians should not have to pick between utilities and groceries, daycare and petrol.

We have the chance and the resources to ensure that they do not struggle and that they succeed.” Other states and municipalities have looked explored ways to put more money in people’s pockets.

While lawmakers in Washington, D.C. have yet to propose any legislation to help people cope with the broader pattern of rising prices — even as states begin to consider their choices — some Democrats on the federal level have proposed The Gas Rebate Act of 2022.

If passed, this bill will provide up to $100 per month to help people cope with rising gas prices.

Given that many analysts predict that inflation will worsen, federal politicians may soon expand their efforts to provide assistance beyond only putting up this plan to assist the public with petrol prices.

More Updates:

While it’s unclear whether such legislation would receive bipartisan support, public pressure could push politicians to act.

Furthermore, because many states already have federal monies leftover from earlier COVID-19 relief acts, more states may step forward and give direct payments if inflation continues to rise and federal relief is not forthcoming.

In other words, even though another stimulus check is far from certain, hope for another payment isn’t always misguided. Those in need of financial assistance should keep an eye on both local leaders and federal lawmakers for indicators that further legislation is on the way.

Getting in touch with your reps and expressing your concerns could also assist to force change, particularly if costs continue to grow.

Exit mobile version