By Aman Jain. Originally published at ValueWalk.
The last federal stimulus checks came in 2021, but since then, there haven’t been any official talks on sending more checks. The White House, however, is now talking about replenishing coronavirus funds, and this could be a hint that Americans could get more stimulus checks. Specifically, the White House is calling on Congress to approve more funding to continue with COVID-19 testing and treatment.
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Urgent Need To Replenish Coronavirus Funds
Congress has approved three rounds of stimulus checks so far since the start of the coronavirus pandemic. The first stimulus check of $1,200 was approved in April 2020, the second of $600 in December and the third of $1,400 last spring.
There have been no new stimulus checks in the past one year, but the pandemic is still not over. Moreover, record high inflation is making it hard for many Americans to meet their daily needs. Thus, many people are still calling for more stimulus checks, and the support that a Change.org petition has gotten is good evidence of that.
The White House, however, doesn’t seem interested in sending more stimulus checks, but rather is focused on winning approval for infrastructure bills. Now, however, the White House is calling on Congress to quickly approve about $16 billion toward coronavirus funds. This money, if approved, would go toward antibody treatments, community testing sites, preventative injections and more.
Last week, Press Secretary Jen Psaki stressed the importance of approving the funds on an “urgent” basis.
“This is an urgent request and this is what is at stake in our fight against COVID,” Psaki said.
Are More Stimulus Checks Possible?
The request from the White House for quick approval of coronavirus funds is very relevant.
“From the COVID side, the bank account is empty,” said Covid-19 deputy coordinator Natalie Quillian, per the Associated Press. “We’re in conversations with lawmakers about how to secure the funding, but it’s urgently needed.”
Thus replenishing of coronavirus funds seems very likely, and with this, many believe stimulus checks could be a possibility as well. Several experts are of the opinion that rising inflation and gas prices could push Congress to approve more stimulus checks.
If not stimulus checks, then the help could come in the form of tax rebates or some tax exemptions that could lower gas prices. Additionally, Americans could also get recurring monthly stimulus checks in the form of a resurrected enhanced child tax credit.
President Joe Biden has been in favor of extending the expanded child tax credit, which ended in December, for one more year at least. Moreover, Sen. Mitt Romney’s Family Security Act also supports sending more money to families with kids.
Some Republicans, however, don’t support the White House’s request for more coronavirus funds; rather, they want the administration to use other relief funding that hasn’t been spent.
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