During COVID 19 pandemic when everything was shut down, some lawmakers demanded for a 4th stimulus check but it never came into effect. After the pandemic situation, the economy and jobs were on the upswing and it didn’t seem necessary to go for another federal stimulus check. But, some states pondered over the situation and took matters into their own hands and started out the 4th stimulus check to their residents.
So, if you are one of those who is doubting a 4th stimulus check happening, then the answer is yes, a 4th stimulus check is happening but it’s happening in some states only. It means you have to check the list of states where a fourth stimulus check is happening as it is not a federal check.
Is the 4th stimulus check happening in the news real? Who is sending them out?
Yes, they are really happening. Unlike the last three stimulus checks, they are not coming from the federal government. Also, they are not happening in all states. This time, certain states are sending out a 4th stimulus check to their residents at state and city level.
This time stimulus checks are not uniform in nature as these are being sent out to some folks at the state and city level.
Earlier three stimulus checks were sent out by the federal government, but a fourth stimulus checks are handled by certain states. The last three stimulus checks were:
First stimulus check: 2020 (March) – $1,200
Second stimulus check: 2020 (Dec) to 2021 (Jan) – $600
Third stimulus check: 2021(March)– $1,4004
For what states are sending out a fourth stimulus check?
As we know, the economy is in a mild recession after the Covid 19 situation. Stimulus checks are to help people who are struggling to pay their bills and kick start their spendings.
However, the nature of 4th stimulus checks is not uniform, it means 4th stimulus checks are sent out to some folks at state and city level. The purpose of the stimulus check has been to boost the economic conditions and help Americans who are struggling to pay their bills or to overcome any type of inflation they face.
Why are some states giving out a 4th stimulus check?
Since 2020, the federal government has sent three stimulus checks and we know the reason behind these three stimulus checks. Of course, Covid 19 pushed the economy beyond our thinking and this is the reason some states are giving out 4th stimulus checks to bring the economy on track, to fight inflation and to help Amercans struggling in any way.
Answer for why some states are giving out a 4th stimulus check is not different. Yes, because of the mild recession the pandemic caused and also, to spend the funds allocated to states when the American Rescue Plan was rolled out. All 50 states together got $195 billion and if we calculate for each state, it is $500 million for each state. But all the states never have the same economic, inflation or other conditions. Therefore, they don’t have forever to spend that money. By the end of 2024, the states have to figure out what to spend the money on and by 2026 they have to use up all that amount. That might be the reason why some states are giving out stimulus checks.
Which states are giving out 4th stimulus checks?
As aforesaid, some states are looking to find reasonable expenditure plans. Therefore, they are giving out fourth stimulus checks to specific groups of people. The reasons behind a 4th stimulus check looks different for each state, but all seem to have a few things in common like income and some kind of hardship.
Here is the list of states which are giving out a fourth stimulus check.
How have Americans spent their stimulus check so far and should they wait for the fourth stimulus?
As we know, the federal government has sent out three stimulus checks and some states are giving out fourth stimulus. But do you know how Americans spend the funds they receive through stimulus checks? Go through the points mentioned below to know how people spend that money. According to State of Personal Finance study people spend on:
41% paid for necessities like food and bills
38% saved their stimulus check fund
11% spent it on considered unnecessary things
5% people invested the money somewhere
After the two stimulus fund allocation, data from Census Bureau reflects positive news.
After stimulus check, Food shortage went down by 40%
Secondly, financial instability shrank by 45%
Now, it is a question to ponder over whether after the two stimulus checks people are in a better spot now and do they need another stimulus? Can a fourth stimulus increase inflation? Or should people wait for the fourth stimulus?
These are some of the common questions people are searching the answers for. Well, getting hands on some extra cash when you’re struggling to pay your bills can feel like a breath of fresh air. But you should not depend on a stimulus for your money plan. You should not wait for a stimulus or government to take care of you. Because, there is no guarantee that the government will allocate a fourth stimulus or it will be your lifeline.
Will the federal government send out another stimulus check for all states?
Many lawmakers agree that another big stimulus will help struggling Americans to rebuild or recover the recession caused by Covid 19. But nobody knows whether the government will send out another stimulus check or not. Like a lot of people didn’t think of a third stimulus check either but they got it later.
Another reason, you might not get another stimulus check is bothe economy and jobs are on the upswing. Therefore, the need for a stimulus is very less. Also, many Americans are getting extra cash each month from the Child Tax Credit. Considering the current economic situation, most probably, the federal government might not send out another stimulus.
Are some states giving out stimulus checks to teachers?
Yes, Some states are rewarding the teachers who are unsung heroes of our communities. Also, teachers played important roles during the Covid-19 pandemic and therefore some states are giving out stimulus checks. These are:
Finally, we hope the above post will help you find your answers related to the 4th stimulus check. Don’t wait for another stimulus check for your money plan as it depends on the government and the economic conditions of the country.