Americans’ thoughts on stimulus check
A new survey from BankRate.com found that 67% of Americans feel the third stimulus check — which is worth up to $1,400 per person — is important for their near-time finances.
- Of that total, 40% said the check will be very important in the near-term and 27% said it will be somewhat important.
But here’s the big thing — about 61% of survey participants said the stimulus check “won’t sustain their financial well-being for more than three months,” according to the survey.
- Most of those people said the check would cover monthly bills (45%), daily needs like food (36%) and debt (32%), according to BankRate.com.
These findings suggest that the third check might not be enough for Americans, who are encouraged to spend the check on the economy. Stimulus checks are often created to stimulate the economy.
Could there be a fourth check?
There have been some rumblings of a fourth check, but nothing truly substantial yet. In fact, CBS News reported that there probably won’t be a fourth check since the U.S. economy has been rebounding amid the pandemic because of the coronavirus vaccine rollout and because people have been spending their third checks.
Some members of Congress have been encouraging President Joe Biden and Vice President Kamala Harris to create a fourth check. In fact, 53 representatives sent a letter to Biden and Harris that said the fourth check is needed to keep people financially safe during the pandemic’s final month, as I explained for the Deseret News.
- “Recurring direct payments until the economy recovers will help ensure that people can meet their basic needs, provide racially equitable solutions, and shorten the length of the recession,” the letter said, according to Politico.