The world’s economy has been in a survival mode ever since lockdown and social distancing became the necessary norms. The American Rescue Plan by Joe Biden is trying its hardest to deviate from the disadvantages of the Coronavirus.
Many stimulus checks have been lined up by the federal government and the state government to support the citizens in these hard times.
The fourth stimulus check was expected to arrive this month, but now it’s thought to come with 2022.
Funds spend on pandemic stimulus till now
The Center for a Responsible Federal Budget has reported that around eighty-six percent of funds from the $5.7 trillion pandemic stimulus funds have been spent or committed, reports As.com.
The White House has argued that funds from the American Rescue Plan should ensure that states have resources on hand to support struggling businesses, workers, and families.
Unemployment is also a deeming factor of the new lockdown due to Omicron. Still, the major private sector and associations like the US Chamber of Commerce and Business Roundtable have not released any comments on whether more stimulus should be passed.
The Senate on the matter
So far, passing the Build Back Better bill would have ensured that families continued to receive payments for the child tax credit next year.
The Congressmen expected to voice their support in announcing making new policy.
However, as the United States of America struggles with Omicron and ensued lockdown, stimulus count and money can push up further.