3 Things to Know About the Possibility of a Fourth Check

Date:

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A better understanding of the factors at play will help you plan for your future — with or without a different stimulus control.


Most important points:

  • With record high inflation, many Americans are hoping for a fourth stimulus check.
  • The likelihood of rechecking depends on several important factors.
  • Congressional control and the likelihood of a recession affect whether more money will come.

The COVID-19 pandemic continues to have ripple effects across the economy. In fact, the pandemic has directly contributed to the United States currently experiencing record high inflation. Many Americans struggle to pay daily costs with prices so high, which is why millions continue to hope for a fourth stimulus check.

But will the federal government stand up to depositing more money in Americans’ bank accounts? Here’s what you need to know about the chances of another payment coming.

1. A recession can increase the chance of a fourth check

The economy is one of the biggest factors that will determine whether there will be a fourth check. In the past, lawmakers on both sides of the aisle have approved stimulus measures during a recession.

While no one should hope for a severe economic downturn, negative economic growth and high unemployment would significantly increase the likelihood of another stimulus payment being made.

2. November Election Results May Affect Chances of a Fourth Payment

In November, Americans will vote for their House representatives and many will vote for their senators as well.

Currently, Democrats control the House of Representatives and control of the US Senate is split 50-50, with Vice President Kamala Harris able to cut ties. The outcome of the November election could affect future control of Congress.

If Democrats manage to retain control of the House of Representatives and gain a larger majority in the Senate, then the likelihood of a stimulus check increases. They would no longer need unanimous support, which they currently do not have for a fourth check, as some of the more conservative Democrats in the Senate are concerned about the inflationary impact of the stimulus spending.

If the Democrats lose control of one of the chambers of commerce, a fourth payment probably won’t happen even if there’s a recession, because Republicans are absolutely against providing additional direct aid.

3. A fourth stimulus check could potentially come from your state

Finally, the location where you live also affects the possibility of a fourth check. This is because a number of states have committed to sending payments to residents. If you live in a place that has allowed this type of financial aid, you are guaranteed a new payment, provided you qualify based on income and other parameters your state has set for eligibility.

Understanding these factors that affect the likelihood of a fourth check can help you plan whether or not additional stimulus relief will come to you.

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The Valley Voice
The Valley Voicehttp://thevalleyvoice.org
Christopher Brito is a social media producer and trending writer for The Valley Voice, with a focus on sports and stories related to race and culture.

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