By now, most Americans have received their stimulus check from the government for $1,200 per adult with an additional $500 per child on top of that.
There are, however, some who have not received their money yet and still there are people who need far more than that to get by. I don't think it will be very much longer before we get another check or at least some sort of assistance.
Congress is already discussing plans for Phase 4 of the Stimulus Plan and currently there are three proposals that are mainly being discussed to further provide financial support.
- The Emergency Money for the People Act would provide a $2,000 monthly stimulus check for up to one year
- The Rent and Mortgage Cancellation Act would cancel rent and mortgage payments for up to one year
- The Getting America Back to Work Act would provide a payroll tax rebate that covers 80 percent of payroll expenses, enabling businesses to more easily hire and retain employees.
Those may be the proposed plans thus far, but I think what it more realistic and likely to happen is that the government is going to send everyone another round of checks, but just another one-time payment check.
I honestly don't believe that Congress is going to approve $2000 per person, per month for up to a year.
Then as far as their second plan goes, I don't think that that's going to happen either. I think that is too costly of an option as well. There is just too much involved in that.
As far as the third option, that would probably be the plan that the Republicans would favor the most, but there's no way that the Democrats are going to approve anything that doesn't send money directly to Americans even if it was more beneficial to the economy and people in total.
That's why I think another $1200 per adult is going to be the most likely option to happen. It's only one more payment rather than monthly recurring payments for an entire year.
White House economic adviser Kevin Hassett told reporters on the White House driveway that those who qualify could receive another check.
“I think that’s something we’re studying very carefully,” he said. “It’s very likely there’ll be a phase-four deal and we’re going to be speaking with the president throughout the week about what he thinks should be in there, and I know that Senator [Mitch] McConnell and Speaker [Nancy] Pelosi are working on that as well,” Hassett said.
“The odds of there not being at least one more round of legislation are pretty low,” Hassett said.
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