The United States government provided citizens with a significant financial boost following the COVID-19 outbreak through a series of stimulus checks.
By sending out payments into the eligible US residents’ back accounts, they tried to help them make ends meet as the pandemic, along with Russia’s invasion of Ukraine, have affected energy prices and inflation rates.
Although gas and groceries prices are gradually falling, many American families are still struggling and their main question is whether a fourth stimulus check will be coming soon.
Will the US government be sending more checks?
Unfortunately, the answer is no. The current Congress can’t pass a legislation similar to the American Rescue Plan Act until after the election.
According to several reports, there is not enough support to vote a bill that would approve another payment.
The 2022 United States midterm elections will be held on November 8, 2022. According to FiveThirtyEight, the Democrats have a 71 percent chance of keeping control of the Senate, but only 27 percent of doing so with the House.
Who is likely to get more stimulus money?
For the time being, there is possibility that parents could benefit from a new stimulus check.
It has to be noted that parents were eligible to receive up to 3,600 dollars for children under age the age of and up to 3,000 dollars for kids aged six to 17 after the government changed the current regulations for the Child Tax Credit.
Meanwhile, almost half of the states have issued payments and others are expected to do so soon for eligible citizens.
Yet, there are many cases of Americans not filing taxes because they didn’t owe any taxes. Perhaps they are not aware that they are leaving some important benefits from the IRS on the table.
There are a number of refundable tax credits such as the Earned Income Credit, the Child and Dependent Care Credit and the Child Tax Credit.