Stimulus Checks Update: Another Payment For The Omicron Variant
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The rising case numbers of coronavirus cases that have been attributed to the omicron variant have left some wondering if the federal government will distribute the fourth round of direct payments in the form of a stimulus check.
In the past, the imminent or ongoing threat of another wave of COVID-19 led to the government giving out more stimulus checks.
But this time, due to the soaring amounts of inflation we are seeing in the US caused by the massive amount of government money poured into pandemic relief, it seems more unlikely than likely that there will be a fourth stimulus check.
Why Won’t The Stimulus Checks Come?
Although another round of direct stimulus checks is not on the agenda, Biden’s priority for 2022 is to try and push through his massive $2T “Build Back Better” bill, which is awaiting Senate approval after it passed the House.
However, Biden will have to convince Sen. Joe Manchin (D-W.Va.) to get on board with the bill’s provisions before it has a chance of getting passed through the Senate, and Manchin repeatedly has voiced concerns about inflation.
The bill features a massive expansion of the social safety net, including an expansion of the Child Tax Credit that was introduced as part of pandemic relief last year.
If the situation with omicron worsens in the weeks and months to come, maybe another round of direct relief might come.
All three rounds of stimulus checks were distributed at times when there was a sharp rise in COVID-19 cases.
If the omicron variant is severe enough to warrant pandemic restrictions to be reintroduced, The White House might have to reconsider the idea of sending out more direct payments to offset the loss of income for individuals and loss of revenue for businesses.
