During the nearly two-year coronavirus crisis, Congress enacted three much-needed stimulus checks. The first instalment was $1,200 in April 2020, followed by a $600 instalment in December of the same year. Last April, the American Rescue Plan, led by Vice President Joe Biden, approved $1,400 in payments.
This ongoing pandemic, along with high inflationary pressures, appears to be worsening across the country, putting even more strain on already-strapped Americans who are still dealing with the repercussions of the epidemic.
Mid-Texas Has Been Torn Apart
Both campaigners and lawmakers have said, according to KWTX, a Central Texas television station, that the American Rescue Plan “is failing to rescue families who have battled since the outset of the pandemic” and that “a fourth and repeating stimulus plan should be put in place.”
According to this news source, politicians claim that a $2,000 monthly stimulus package will last until the pandemic is over.
Regular monthly payments, according to Rob Tennant, an economics professor at Texas A&M Central Texas, may be a pipe dream. A fourth stimulus test, on the other hand, is more likely.
Tennant projected that when people had more money, inflation would pick up, leading to increasing shortages in the market.
“As a result, it’s possible that a vicious cycle will emerge. All of this must be considered, but that does not negate the importance of people’s suffering.”
Tennant believes that looking for better-paying jobs is a preferable option for low-income families right now.
“I would suggest looking for a job that pays more because it’s so difficult to acquire employees right now,” the speaker stated to individuals who aren’t making enough money at their current job and are looking for something better. He went on to say, “The world is your oyster.”
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President Obama, on the other hand, has moved on to other objectives after looking sympathetic to a fourth stimulus package over the summer. As part of this campaign, enough legislators must endorse the Build Back Better legislation.
If that law had been passed earlier, it would have given a year to the much-desired higher child tax credit. Unofficially, the increased child credit is considered as a foreshadowing of the much-anticipated fourth stimulus check.