On Tuesday, White House Press Secretary Jen Psaki dampened the possibility of additional stimulus checks. Even though it was up to Congress to make the final call, the likelihood of such an event is unlikely considering the high cost associated with administering another round of checks.
President Biden had signed a stimulus bill worth $1.9 trillion in March, which among other relief policies, sent checks worth $1400 to millions of American residents across the nation. Since then, there has been an uproar about the fourth round of stimulus checks to which Psaki bluntly replied how “those are not free” and the White House administration will only decide the course of action after assessing “what members of the congress propose.”
With Biden’s stimulus checks coming into play, the economy has gained momentum to a certain extent- U.S household income witnessed a 21% increase in the month of March. Now, the President is currently garnering support for his infamous $2 trillion infrastructure bill, more popularly known as the American Families Plan. Biden plans to balance the grand $4 trillion of spending by increasing the tax rates on wealthy families.
Despite the absence of stimulus checks in Biden’s new proposal, his plan does include several other forms of direct payment, including the extension of child tax credit that was a part of the stimulus package Biden signed in March.
In his first prime session to the Congress last week, Biden commended the efforts of his administration in sending a full round of stimulus checks to Americans. “More than 160 million checks have been out the door,” remarked Biden, citing the improvement in the economy as a result of those direct payments. Moreover, he added that these payments have played an integral role in helping people during difficult times. For some he said. “It’s making all the difference in the world.”
Ever since the pandemic started, Congress has approved and issued three rounds of stimulus checks. The first package was sent out in the initial days of the virus in March 2020, which was soon followed by former President Donald Trump’s relief bill that sent out $600 relief checks. The third round came under Biden’s tenure where the American Rescue Plan worth $1.9 trillion brought $1,400 payments straight to the homes of Americans. Till now, there is no such plan for running another cycle of direct payments.