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FinanceEconomic Stimulus

Demand for fourth stimulus check continues to grow

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
July 8, 2021, 12:31 PM ET

The call for a new round of stimulus checks is getting louder.

More than 2.5 million people have signed a Change.org petition calling for recurring $2,000 payments to adults and $1,000 payments for children. That’s up over 200,000 from a month ago. But the odds of those wishes being fulfilled are long.

The Biden administration has brushed off talk of a fourth round of stimulus checks, pointing instead to the Child Tax Credit, which will begin making the first of six payments into the bank accounts of parents on July 15, and the American Rescue Plan, which is designed to stimulate the economy.

Eligible families will receive up to $1,800 in cash through December via the Child Tax Credit. Eligible taxpayers will receive up to $300 per month this year for each child age 5 or under, or $250 per month for each child between the ages of 6 and 17. Some people signing the petition, though, say that’s not enough.

“Just because the economy has somewhat picked up, the American people had an entire year and a half of a financial setback,” said one signer. Another added “I have been unemployed since December. … I live in fear everyday [sic] because of this virus. I am living in my car. I can’t believe it has gotten this bad.”

While it’s not a stimulus check, Biden’s American Families Plan could provide some additional relief, if passed. That plan would extend the $250 monthly Child Tax Credit through 2025.

There has been some additional support for the movement in Washington. At the end of March, 21 Senate Democrats (including Elizabeth Warren and Bernie Sanders) sent a letter to President Biden supporting the idea of recurring payments and automatic unemployment insurance extensions. Little to nothing has been said about that proposal since then, however.

The call for additional stimulus checks comes despite a number of people who still haven’t received their third round $1,400 stimulus checks.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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