The new year starts with devastating news for many Americans. The Omicron variant continues to run rampant, leading many businesses to shut down. Desperate citizens are searching for financial support against economic inflation. Fortunately, there are some proposals that petition for a fourth stimulus check.
Fourth Stimulus Check: The $2000 Online Petition
At the start of the pandemic, several Americans foresaw difficulty in livelihood. Denver restaurant owner, Stephanie Bonin, started an online petition to address the issue in March 2020.
Bonin said businesses would be forced to shut down to slow the spread of the virus. The lack of income would obviously affect their lifestyle, especially with expenses like grocery, rental and electrical bills. As the pandemic dragged on, Bonin emphasized that issues would get worse.
To help Americans avoid slipping into poverty, Bonin proposed recurring $2000 stimulus checks for the duration of the pandemic. She said these payments could be something Americans can rely on during this crisis. Bonin explained that "we need immediate checks and recurring payments so that we can keep our heads above water. Congress needs to make sure that we won't be left financially ruined for doing our part to keep the country healthy."
A lot of Americans supported Bonin's notion for these recurring stimulus payments. The online petition has reached 2,996,528 signatures out of its 3 million goal at the time of writing. Although the petition failed to reach its goal by the end of 2021, many supporters remain hopeful that it might finally be completed early this month considering the pace it has.
4th Stimulus Payments: Automatic Stabilizers
Aside from recurring stimulus payments, other experts proposed stabilizers that should trigger the issuance of stimulus checks whenever the American economy dropped to dangerous levels. Adam Ruben, the director of the Economic Security Project, explained this radical proposal.
Ruben told Newsweek that "putting in place these kinds of triggers would smooth out the recovery, and no one is left at the mercy of Washington gridlock in future recessions."
He used unemployment levels as an example, saying that whenever the unemployment rate was on the rise, the government should automatically issue expanded unemployment payments to improve the economy.
Will There Be Fourth Stimulus Payments
Unfortunately for Americans, a fourth stimulus check seems highly unlikely at this point. AS emphasized two big issues for a fourth stimulus check approval.
The first reason is that Congress has not passed the Build Back Better (BBB) bill, which should have expanded Child Tax Credit, unemployment benefits and other similar financial aid programs. According to AS, Senator Joe Manchin rejected the proposal when it was pushed forward by the White House. Note that the bill has no chance of becoming a law without Manchin's vote.
The second reason is the split of priorities for stimulus check payments. Instead of issuing a federal payment program, lawmakers might direct their budget to the student loan moratorium for eligible Americans.
I think this makes student loan pause the longest lasting pandemic policy for households. Outlives stimulus checks, higher UI benefits, child tax credits. Perversely, it's the only one of these with absolutely no means test or income limit. Right? Strange policy priority IMO. https://t.co/QTHhDzdXH3
— Jason Delisle (@delislealleges) December 22, 2021
Notably, the Republicans and Democrats are still locked in a heated debate over COVID relief measures. More updates might be released in the coming weeks.
Related Article: Fourth Stimulus Check Tracker: $8000 Payments for Child Care, $2000 Online Petition Nearing Completion
