Discussions on a possible fourth stimulus check have been rather flat over the last few weeks. But new developments might come next week as Congress is set to meet again.
Stimulus check update soon?
Yahoo Finance reports that Congress could be discussing a fourth stimulus check soon.
- “Now that Congress is meeting once again, discussions surrounding another stimulus payment are likely,” per Yahoo Finance.
There are some lawmakers who have voiced their support for another round of stimulus checks, according to CNET. But others argue that “stimulus money should be lower on the agenda” because the U.S. economy is showing signs of recovery from the pandemic, according to CNET.
New analysis of stimulus checks
On top of that, Yahoo Finance reports that there have been some developments that could bolster the pro-stimulus check side since the last time Congress met.
- For example, the University of Michigan recently released a new analysis of stimulus checks that said the checks really helped Americans, as I wrote for the Deseret News. In fact, the stimulus payments “resulted in lower rates of financial instability, food shortages and depression,” according to Yahoo Finance.
- After the analysis came out, Vermont Sen. Bernie Sanders tweeted his support for another round of checks because of the study’s findings.
Why there won’t be another round of stimulus checks
Right now, there is no momentum for another stimulus check. The White House seems cautious about starting another round of payments, too. As I wrote for the Deseret News, White House press secretary Jen Psaki said President Joe Biden would be open to another round of checks.
- “He’s happy to hear from a range of ideas on what would be most effective and what’s most important to the economy moving forward,” she said.
However, Biden has already passed the $1.7 trillion American Jobs Plan and the $1.8 trillion American Families Plan, which he believes will help reshape the economy.
Previous stimulus checks did help people with their financial hardships, so it doesn’t seem like a high priority right now.