Fourth stimulus check news summary: 23 May 2021
US stimulus checks live updates | Sunday 23 May 2021
Headlines:
- Dollar rises on upbeat US manufacturing data
- Negotiations on the American Jobs Plan are stalling as Republican opposition grows (full story)
- Expanded Child Tax Credit monthly payments will begin on 15 July, continuing for at least 6 months
- The IRS tax return deadline of 17 May has now passed; however some states have issued extensions (read more)
- Over six million “plus-up” stimulus check payments have been sent out, a total of $13 billion
- Retail giants report positive economic outlook after stimulus check influx and reopening boost
- Benefits of delaying Child Tax Credit payments (full story)
- California sends out $600/$1,200 stimulus checks as part of the Golden State Stimulus scheme
- You can track your third stimulus check by using the IRS' online Get My Payment portal
Take a look at some of our related articles:
Is there a fourth stimulus check coming in June?
While the prospect of an imminent fourth stimulus check now seems unlikely, there are talks ongoing about an inclusion that could see another round triggered in future. Newsweek report that the Economic Security Project has briefed 50 members of staff from the Senate Finance Committee on “automatic stabilizers;” which would provide a framework for more checks without needing additional approval from Congress.
Can an employer ask if you're vaccinated in the US?
Can an employer ask if you're vaccinated in the US?
New CDC guidance on mask-wearing for vaccinated people leaves employers in an awkward position in trying to figure out how to establish office safety.
How long do I have to my keep tax returns?
You’ve filed your taxes and now you’re wondering what to do with those papers, depending on what you need them for determines how long you should keep them.
$3000/$3600 Child Tax Credit: how and when will the payments be sent?
Payments for the enhanced Child Tax Credit (CTC) are slated to begin 15 July, over ninety percent of families in the United States can expect a payment. Families can expect payments on the 15th of each month through December unless it happens to fall on a weekend or holiday. The remaining balance of the tax credit can be claimed next year during tax filing season.
Tax Season 2021: Reasons why the IRS is delayed in sending out tax returns
Usually, taxpayers receive their returns within twenty-one days of filing. However, this year was again atypical and the IRS has warned that some taxpayers could see delays in receiving their return.
Which Democrats and Republicans are supporting a fourth stimulus check?
With the White House reportedly considering recurring stimulus checks, a number of prominent Democrats have called on Biden to include the direct payments in the next relief bill.
Do you need to work to claim the child tax credit?
With payments for the enhanced child tax credit slated to begin in July, questions around work requirements and claiming the benefit have arisen.
Stimulus mortgage program: how to apply to pause mortgage payments
The mortgage forbearance scheme introduced in 2020 has been extended, giving you until July to claim the covid-19 financial relief.
California Golden State Stimulus
Where is my California Golden State Stimulus? How to check when it will arrive
California is providing a stimulus payment of $600 or $1,200 per tax return to qualifying families and individuals.
Unemployment benefits: What changes are coming in June?
Changes to unemployment benefits across the US could impact millions of beneficiaries as some states choose to end additional benefits or implement new requirements.
The states that will be ending unemployment benefits have an average unemployment rate of 4.5%, which is lower than the national average of 6.1%
Wall Street Journal reports on consumer spending
The analysis done by WSJ shows that spending continued to increase in April. Sectors that saw growth in income were auto-related purchases and dining.
Some eligible Americans consider delaying CTC payments
Families are slated to begin receiving the expanded, monthly Child Tax Credit in July, but some qualifying households are wondering if they should delay their payments.
(Photo: Kevin Lamarque/Reuters)
Sales Tax Holiday in Florida: When are they taking place and what items are included?
Sales Tax Holiday in Florida: When are they taking place and what items are included?
The Florida state Senate has passed a new bill that will establish three sales-tax-free periods, which will apply to various purchases throughout the summer. The first is set to begin on 28 May and lasts through 6 June, target items to prepare for the upcoming hurricane season.
The second, dubbed “Freedom Week,” will cut all sales taxes associated with outdoor recreational activities and events.
The third will take place during the “Back to School” season and apply to purchases, including clothes and academic materials.
Read our coverage for more details on when these sales tax holidays will take place and for what experts have said on their efficacy to spur economic growth.
Is there a fourth stimulus check coming in June? Relief bill updates
The IRS is still sending out the $1,400 direct payments in the third round of stimulus checks, but there are growing calls for a fourth check to be included in the next relief bill.
New polling shows that third of Americans support the sending of a fourth stimulus payment. Where do negotiations on a fourth check stand? Read our coverage here.
What's the age limit on the expanded Child Tax Credit?
The American Rescue Plan passed in March will be sending more help to families with children in 2021 through an enhanced Child Tax Credit with optional monthly payments set to begin 15 July.
The tax credit was expanded both in size and age with parents of children who turn 17 in 2021 now eligible to receive up to $3,000. If your child has their 18th birthday before the end of the year you’ll need to settle for a smaller tax credit.
More details on Child Tax Credit eligibility
(Photo: Matthew Horwood/Getty Images)
What ID can I use to cash stimulus checks?
If you want to cash your stimulus check you can do so at banks even where you are not an account holder or member, but you will need to bring ID.
Unemployment benefits: will the $300 weekly payments continue?
How long will the $300 a week topper for those unemployment last?
For unemployed people in more than 25 states, the benefits are slated to last through September. However, governors in twenty-two states have announced that they will be ending the additional payments in June and July.
Read our full coverage here.
Interested in more articles on the topic? Read our coverage on which states are ending the benefits and what programs they are putting in place to encourage reentry into the workforce.
Unemployment: Which states have called to cancel all additional federal benefits?
How long will the monthly Child Tax Credit last?
President Biden is attempting the extend the expanded Child Tax Credit through 2025, but many from within his own party want to make the monthly payments permanent.
Petition calling for recurring stimulus checks has over 2.22 million signatures
A Change.org petition pushing for recurring stimulus checks until the coronavirus pandemic is over has now accrued over 2.22 million signatures.
Colorado restaurant owner Stephanie Bonin is calling for monthly checks of $2,000 for adults and $1,000 for children.
"Supplying Americans with monthly support until they can get back on their feet can save our communities from financial ruin," Bonin says.
At the time of writing, the petition had been signed by 2,226,924 people. Set up last year, it was named by Change.org among its top 10 petitions that changed 2020.
Around $13bn in "plus-up" payments sent out
The Internal Revenue Service has distributed approximately 165 million stimulus checks in the third round of Economic Impact Payments, over six million of them “plus-up” payments.
See also: What is a "plus-up" payment and who gets it?
(Photo: Brian Snyder/Reuters)
How much were the first, second and third stimulus checks and when were they sent out?
Since the coronavirus pandemic began, the US federal government has sent out three rounds of stimulus checks to eligible Americans.
Stimulus checks: every AS English news article
In our dedicated news section on stimulus checks, you’ll find a range of articles offering updates on a potential fourth direct payment in the United States, as well as information on the third round of stimulus checks, which have been going out to qualifying Americans since March.
IRS encourage users to consult online
The Internal Revenue Service have been promoting the use of their array of online services for users to use in addressing any tax queries or concerns.
Which Democrats and Republicans are supporting a fourth stimulus check?
More than 80 Democrats support fourth stimulus check
With the White House reportedly considering recurring stimulus checks, a number of prominent Democrats have called on Biden to include the direct payments in the next relief bill.
What are the American Jobs and Families Plans?
The White House outlines the proposals as part of the Build Back Better initiative powered by President Joe Biden.
United States Secretary of Transportation Buttigieg explains the American Jobs Plan
Watch as Secretary Peter Buttigieg breaks the plan down on a tweet
Influencing factors surrounding a fourth stimulus check
A great deal of a possible fourth payment will depend on how the economy recovers into the summer and fall and whether there will be the impetus for additional stimulus checks. Currently there is more focus on continuing the enhanced Child Tax Credit for 2021 that will begin sending households with children monthly direct payments starting in July. President Biden has proposed extending the expansion until 2025, while the congressional Democrats want to make it permanent.
As for a fourth stimulus check Yeva Nersisyan, Associate Professor of Economics at Franklin & Marshall College told CBS “let’s see if people still need more assistance. Let’s see how the economy’s doing as things keep opening up and the vaccination rates go up and things go back to some sense of normal. And let’s see where the unemployment numbers are. Are people still running behind on their rents and mortgages and so on? And based on that, let’s decide whether we need to inject more spending into the economy. I would say wait and see right now.”
Congressional Democrats push for recurring stimulus checks
Many Democrats in the House of Representatives have argued that the $1,400 direct payment included in the American Rescue Plan was insufficient to support those who have been worse-hit by the pandemic. In response, Rep. Ilhan Omar sent a letter to the White House earlier this year advocating for recurring stimulus check payments.
The letter read: “A one-time payment of $2,000 is simply not enough. The American people are counting on us to deliver transformative change, and we need to meet the moment by delivering monthly payments of $2,000.”
Is there a fourth stimulus check coming in June?
While the prospect of an imminent fourth stimulus check now seems unlikely, there are talks ongoing about an inclusion that could see another round triggered in future. Newsweek report that the Economic Security Project has briefed 50 members of staff from the Senate Finance Committee on “automatic stabilizers;” which would provide a framework for more checks without needing additional approval from Congress.
The proposal would see a fourth stimulus check linked to certain economic triggers, with the new payments going out automatically if the unemployment spikes, average household income falls, or other indicators of economic health.
Tax Season 2021: Reasons why the IRS is delayed in sending out tax returns
Reasons why the IRS is delayeing in sending out tax returns
The tax filing in the United States has passed, and the IRS warns that receiving a return may take a little longer than usual this year.
Fourth stimulus checks: what do Republicans think of a new relief bill?
Fourth stimulus checks: what do Republicans think of a new relief bill?
President Biden is searching for a bipartisan solution to stimulus talks, but he may have to resort to reconciliation again if he is to pass a large-scale relief bill.
Can an employer ask if you're vaccinated in the US?
Can an employer ask if you're vaccinated in the US?
New CDC guidance on mask-wearing for vaccinated people leaves employers in an awkward position in trying to figure out how to establish office safety.
Vaccine rollout sees UK retail spending soars as economy reopens
British shoppers splashed out on new clothes in April after shops reopened following months of lockdown closures, adding to signs of a robust economic recovery, official data showed on Friday.
Sales volumes in April jumped 9.2% month on month - twice the average forecast in a Reuters poll of economists and the biggest rise since June - after rising 5.1% in March. Clothing sales soared by almost 70%.
"Fashion retailers (were) the ultimate beneficiaries of beer gardens reopening and the 'rule of six' night out returning," said Aled Jones, head of retail at Lloyds Bank.
Confused couple in Japan receive latest round of $1,400 stimulus checks
Biden's infrastructure push
President Joe Biden, has made infrastructure spending a priority in the early days of his presidency, but he is seeking to find common ground with Republicans on an overall package.
The new proposal reduced funding for broadband and the proposed amount of investment into roads, bridges and major projects, White House spokesperson Psaki said.
"This proposal exhibits a willingness to come down in size, giving on some areas that are important to the president ... while also staying firm in areas that are most vital to rebuilding our infrastructure and industries of the future," Psaki told reporters.
Psaki said that because the overall cost of the package had come down, the need for "pay-fors" would also be reduced. Biden remained committed to not raising taxes on people making less than $400,000 a year, Psaki said.
White House says it has pared down infrastructure proposal to $1.7 trillion
The White House said on Friday it had lowered the cost of its proposed infrastructure bill to $1.7 trillion from $2.25 trillion as a counterproposal to a package put forward by a group of Republican lawmakers.
The new proposal would be released later, White House spokeswoman Jen Psaki said. Some aspects that had been removed from the new proposal, such as investments in research and development, would find their way into other bills.
Dollar rises on upbeat US manufacturing data
The dollar rose against a basket of currencies on Friday, boosted by encouraging U.S. manufacturing data, but remained on track for a weekly loss as traders' concerns about taper talk in U.S. Federal Reserve minutes moderated.
The dollar has given back much of the advance it made after a mention in minutes from the Fed's April monetary policy meeting of possible future discussions on paring back stimulus, raised hopes U.S. interest rate raises might come earlier than previously thought.
"Taper concerns have faded rather quickly, it would seem," Shaun Osborne, chief currency strategist at Scotiabank, said in a note. The U.S. currency found some support after data showed U.S. factory activity gathered speed in early May amid strong domestic demand.
Stimulus mortgage program: how to apply to pause mortgage payments
Stimulus mortgage program: how to apply to pause mortgage payments
The Biden administration has extended the mortgage forbearance programme introduced last year, giving you until July to claim the covid-19 financial relief.
Fourth stimulus check: what have Democrats said about a new relief bill?
Negotiations on the American Jobs Plan are stalling as Republican opposition grows
Democrats are pushing for the passage of two bills that would provide billions in stimulus for struggling families and to improve the nations infrastructure.
Unemployment benefits: will the $ 300 weekly payments continue?
How long will $300 weekly top-up to unemployment benefits last?
While the American Rescue Plan extends federal pandemic unemployment benefits until September, 22 states have now chosen to end them earlier.
US stimulus checks live updates: welcome
Welcome to our live US stimulus checks blog for Sunday 23 May. We’ll be bringing you updates on a possible fourth direct payment and updates on the third stimulus check, which the IRS has been distributing since the $1.9tn American Rescue Plan was signed into law in early March.
We'll also provide information on other economic-aid schemes such as the expanded Child Tax Credit, which gives qualifying households up to $3,600 per child per year, and the Golden State Stimulus payments going out in California, where Governor Gavin Newsom has announced plans include more residents of the state in the program.