Will there be more stimulus checks, child tax credit payments in 2022?

For months, millions of Americans have been wondering if they will receive a fourth stimulus check this year. (Photo by Edward Pevos | MLive)
It’s been nearly a year since the last round of federal-level stimulus checks started to be deposited in the accounts of millions of Americans.
The American Rescue Plan was signed into effect by President Joe Biden in March 2021. Part of the plan was stimulus checks worth up to $1,400 per eligible individual as well as the child tax credit to qualifying families.
Most Americans should’ve received their stimulus checks in March, but some received them throughout 2021, and others will have to claim it when they file their 2021 taxes.
While millions of Americans feel like they could use a fourth stimulus check or recurring payments, experts say stimulus checks are unlikely in 2022. Though the fight continues.
“Despite the continued hardship being experienced across the U.S. by millions of Americans, at this juncture, another stimulus check looks unlikely,” said Olivia Tan, co-founder of CocoFax, according to Yahoo. “The U.S. economy will keep growing at a healthy pace through 2022, with J.P. Morgan’s chief U.S. economist Michael Feroli expecting job creation to push unemployment down to around 3%. As well as strong GDP growth of 3%, he also thinks that the outlook for wages and inflation appears favorable for next year.”
Nevertheless, a Change.org petition advocating for $2,000 recurring payments has gained momentum with 3 million signatures. Still, the likelihood of another stimulus check is slim at this point.
Though, the child tax credit has reportedly shown major success with helping families, even bringing some out of poverty. Depending on eligibility, parents received either $250 or $300 monthly payments from July through December 2021. The total amount to either $3,000 or $3,600, meaning parents will have to claim the remaining amounts when they file their 2021 taxes.
Hence, the continuation of the child tax credit has major support from lawmakers. The credit would have continued had Biden’s Build Back Better bill passed. Though West Virginia Sen. Joe Manchin shut it down out of fear of inflation. Though the bill is currently held up, the Biden administration and the Democratic party haven’t given up on it.
While another round of stimulus checks or recurring payments seem far-fetched and the child tax credit being held up in Congress under a new bill, Yahoo reports million of Americans are still economically struggling and could use more direct relief.
 

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