Fourth stimulus check | News summary for 9 November
A majority of voters in the US are in favor of increasing taxes on the ultra-rich
Data for Progress found that 68 percent of voters are in favor of a wealth tax on millionaires and billionaires. While rates are highest among Democrats, more than half of Independents, and Republicans also support the tax increases.
It extends the refundable Child Tax Credit by putting the American Rescue Plan that we passed months ago. It’s one of those things that I’m most proud of, because not only has this meant a tax cut for working families, not only has it helped some 60 million children in America. It has helped to cut child poverty in America by more than 40 percent. And that’s something to really — really be proud of, in my view.
Do you need to pay taxes on your social security benefits?
Around forty-percent of social security beneficiaries are required to pay taxes on their benefits because their income limits surpass a certain threshold. In addition to benefits, the Social Security Administration and the Internal Revenue Services count income as "wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return."
Read our full coverage for details on the income limit and how what percent of benefits will be taxed.
In August, 4.3 million workers voluntarily left their jobs. The leisure and hospitality and food service sector saw the greatest number of quits. Many of these workers left looking for greater flexibility, better working conditions, and higher pay.
The BLS is now reporting that in October, workers in the leisure and hospitality sector saw the an average increase in page of 1.1% and an addition of more than 164,000 workers to the payroll.
Can a fourth stimulus check payment happen before December 2021?
The Democrats reached an agreement on a framework for President Biden’s Build Back Better social and environmental legislation. The infrastructure bill has been passed, lending an extra trillion dollars to combat the country's ailing road and transport systems. Its sister bill, for social spending, has yet to be passed.
However, one measure notably absent from either bill and the legislative discussion is the idea of sending a fourth round of stimulus checks.
Read more on why Congress has moved away from this economic option.
Will Child Tax Credit eligibility change for payments in 2022?
A deal with Senators Joe Manchin of West Virginia (D-WV) was announced by the White House on 1 November which said that the Senator was "prepared to support a Build Back Better plan that combats inflation, is fiscally responsible, and will create jobs."
However, shortly after Sen. Manchin hosted a press conference where he said he was not used convinced and was interested in containing negotiations to create a "sensible reconciliation package that strengthens our nation.”
The fate of the Child Tax Credit lies in the passage of $1.75 trillion reconciliation bill. Should the reconciliation bill be passed, the CTC with its current eligibility requirements would be extended one more year. Under the American Rescue Plan, changes to the structure of the credit were made which expanded eligibility to more than twenty-four million children. Read more.
What is the Child Tax Credit payment date in November 2021?
The Child Tax Credit has been sent out since July and it has been very popular. Studies have proven its positive effects on recipients mental health, lifting millions out of poverty, and, surprising for some, an extra willingness to find work.
Four payments have been sent so far; July, August, September and October with the next due in just under a week on November 15.
While the monthly payments for 2021 and drawing to a close, there is a high chance they will still be in place in their current form for at least 2022, provided Congress passes the reconciliation bill.
Pelosi: We recognize the need to tackle the climate crisis
While Nancy Pelosi extols the benefits of the infrastructure bill to COP26, research into the contents of the bill shows it doesn't go anywhere near as advertised to dealing with the climate crisis. It includes $47 billion in climate resilience measures, and, per the White House, $65 billion in clean energy and grid-related investments.
The bill provides just "nominal" emissions cuts between now and 2030 compared to current policy, according to REPEAT Project, a group led by Princeton energy expert Jesse Jenkins.
They estimate energy and industrial CO2 emissions 30% below 2005 levels in 2030 a long way from President Biden's pledge of a 50% cut in U.S. greenhouse gas emissions by 2030. Surely not enough to meet the country's climate commitments.
Republican threats toward infrastructure rebels
13 Republicans voted to pass the $1.2 trillion infrastructure bill, eclipsing the six progressive Democrat rebels who voted against the bill. Some conservative House Republicans have discussed retaliating against their colleagues by booting them from their committee spots, although that effort faces little chance of succeeding.
The blowback on the right has been intense. Fred Upton, a Republican who voted for the plan, said on Monday that he received a threatening voicemail after voting for the bill. On CNN's "AC360", Upton shared a message from a caller who said, "I hope you die. I hope everybody in your f**king family dies."
What days and time do Social Security checks get deposited?
When Americans sign up for Social Security or Supplemental Security Income (SSI) benefits they should also sign up to receive their payments via direct deposit. This fast convenient way to receive payments ensures that recipients can have the payments the same day that their benefits supposed to be sent.
Beneficiaries who don’t have a bank account can receive help setting one up through the agency’s online tool my Social Security or the Treasury’s Go Direct website. Beneficiaries also have the option of receiving payments electronically on a Direct Express Debit Mastercard.
WATCH: An upcoming list of all infrastructure projects?
With the infrastructure bill finally passed, questions are being asked about where the money is to be spent. White House Deputy Press Secretary Karine Jean-Pierre has been dealing with the press and public questions.
Could the $1,400 stimulus check petition be passed in 2022?
Senior citizens have been hit hard by inflation, which is at its highest in 30 years, eating into fixed incomes and creating hardship for many. The situation has prompted calls from the Senior Citizens League for a remedy in the form of a one-time $1,400 stimulus check for those receiving Social Security benefits.
On an annual basis the Social Security Administration increases monthly payments to account for any rise in the cost of living. Although this year’s cost-of-living adjustment was the highest in 40 years, higher Medicare premiums will offset much of those gains. Additionally, the record increase could also put some beneficiaries into a higher tax bracket, further eroding the annual boost to entitlements.
CBO score could delay Build Back Better bill further
On Friday shortly before midnight Congress passed the $1.2 trillion bipartisan infrastructure bill, but not the Build Back Better bill. The two bills were supposed to clear Congress together but moderates objected to passing the Build Back Better bill without a Congressional Budget Office score. Hopes were that the score would be ready when lawmakers return next week after their week-long recess.
The CBO however doesn't want hopes to get too high of that happening. Due to the complexity of the sweeping legislation to invest in families and implement more climate change combating measures the CBO says that it will publish its score piecemeal on the proposals. A full score will come out "as soon as practicable."
COLA 2022: when will the first payments arrive for SSI beneficiaries?
Last month the Social Security Administration (SSA) announced a huge cost-of-living adjustment (COLA) for Social Security recipients in 2022. The 5.9% increase is the largest for 40 years and reflects the tough financial situation that many find themselves in because of the pandemic.
The increase will affect close to 70 million Americans who receive either Social Security or Supplemental Security Income (SSI) benefits. SSI is designed to help those who are unable to earn sufficient wages, typically due to a disability or age.
Here's whenthe boosted payments will land.
White House confident about investment policies
President Biden's poll numbers have been slipping since the summer but White House Principal Deputy Press Secretary Karine Jean-Pierre says that poll numbers are not what is influencing the President's decisions of implementing his investment agenda.
After suffering a setback in the Virginia gubernatorial race, Democrats passed the $1.2 trillion bipartisan infrastructure bill, the largest of its kind in nearly 70 years. This was despite efforts by progressives to make sure that it and the Build Back Better bill went to Biden's desk at the same time.
The latter Democrats hope to pass in the House next week when they return from a week-long recess where it will go to the Senate.
Bipartisan infrastructure bill will let Amtrak double the number of routes
Amtrak was created half a century ago when the US' existing 20 passenger railroads were consolidated into one. The interstate passenger rail service has 33 routes in 46 states stopping in over 500 destinations.
With the $66 billion injection from the bipartisan infrastructure bill Amtrak could nearly double the number of routes and increase the number of communities it serves by 160. The money will also allow Amtrak to become compliant with the Americans Disabilities Act, upgrading stations around the country to make them accessible to those with disabilities, a task it was supposed to have acheived by 2010.
Close to four million people sign fourth stimulus check petitions
The prospect of a fourth stimulus check seems very distant at the moment, with President Biden focusing on other spending priorities in his $1.75 trillion Build Back Better bill. However that dos not mean that the American people have given up on the direct payments and a number of petitions have sprouted up demanding lawmakers consider a fourth stimulus check.
What does the bipartisan infrastructure bill approved by the house include?
Against the wishes of Progressive Democrats, Speaker Nancy Pelosi brought the Bipartisan Infrastructure package to a vote in the House of Representatives. The Progressive Caucus has argued that they would not vote on the package until the reconciliation bill was also introduced in the chamber.
Despite the Progressive opposition, all Democrats voted to approve the bill. Additionally, thirteen Republican members voted with Democrats, separating from the common position of their party. But what does the infrastructure package actually include?
“Social Security is not an entitlement – it’s the insurance Americans have paid for to fund retirement, disability, and survivor benefits through a lifetime of work. Seniors depend on Social Security and no one should be able retire into poverty. I am committed to taking common sense steps to expand benefits and to make the system solvent for the next 75 years and beyond.
"The Social Security 2100 Act, will do just that, without adding to the national debt. Social Security is the most successful program in American history, it is time to expand it for the future. This bill will secure your future, your family, and our nation.”
Pascrell praises historic rise for Social Security recipients
Last month the Social Security Administration (SSA) announced a cost-of-living adjustment (COLA) of 5.9%, which will come into effect for the payments received in January 2022. However while the annual increase is a positive, there is concern that by 2034 the mechanisms funding the Social Security programmes will no longer be able to support the payments.
To counteract that, Rep. Bill Pascrell has co-signed the Social Security 2100 Act, which aims to designate additional funding for the social safety net.
How much will the Build Back Better bill cost?
In a conversation on CNBC's 'Squawk Box', the White House Economic Council Director Brian Deese spoke about the estimated cost of the long-awaited Build Back Better bill. The overall cost of the package has been in dispute in recent weeks after Sens. Joe Manchin and Kyrsten Sinema demanded to get an exact cost for the proposal.
The White House has claimed that the bill is fully paid for, using a combination of tax increases for higher earners and corporations and is offset by the financial benefits of the package further down the line. For example childhood poverty, which is combated by the Child Tax Credit provision, is estimated to cost the US economy roughly $1 trillion per year.
What is in the Build Back Better package?
Last week the Democrats were able to pass the long-awaited bipartisan infrastructure proposal, the first part of President Biden's two-part legislative agenda. However the trickier bill is the more expansive Build Back Better bill, which is currently the subject of debate amongst Democrats in th Senate.
Rep. Pramila Jayapal is one of the key proponents of the bill in the House, and here outlines the main inclusions in the bill, such as the Child Tax Credit extension and Medicare expansion.
Will a new stimulus check happen in November 2021?
After months of negotiations the Democrats have reached an agreement on a framework for President Biden’s Build Back Better social and environmental legislation. The sweeping $3.5 trillion spending package has been cut in half with many proposals whittled down or axed all together.
These include aspects dealing with climate change, as well as maternity and paternity pay for the first time. Even these negotiations are yet to be completed, as moderate senators continue to hold back the legislation due to their demands. There is funding for Child tax Credits and new climate change preventative actions, but will there be a fourth stimulus check?
Emhoff reflects on a year since presidential election
Doug Emhoff, husband of Vice President Kamala Harris, looks back at the achievements of the current administration over th year since Harris and President Biden were voted into office. He lists the expansion of the Child Tax Credit and the successful passage of the bipartisan infrastructure bill as two key legilsative achievements.
How can you claim higher social security benefits?
Last month the Social Security Administration (SSA) announced that beneficiaries will see a 5.9% boost in their monthly payments for 2022. This is a result of the yearly cost-of-living adjustment (COLA) and is larger than in past years because of price increases for many consumer goods across the economy.
The Senior Citizens League reported just before the COLA announcement that they had heard reports from seniors that they were forced to cut back on meals and forgo prescription refills because their Social Security benefits were not lasting them through the month.
"[A]t least 40% of the clean investments in this bill will go to benefit the communities that are overburdened and underserved."
"If an underpass was constructed such that a bus carrying mostly Black and Puerto Rican kids to a beach ... in New York was designed too low for it to pass by, that ... obviously reflects racism that went into those design choices."
"I don't think we have anything to lose by confronting that simple reality and I think we have everything to gain by acknowledging it."
Yellen talks about the impact of Biden's Build Back Better agenda
On Jon Stewart's new show he spoke with Treasury Secretary Janet Yellen about President Biden's Build Back Better agenda. The two also debated the ways in which multinational corporations are able to pay workers wages that make them dependent on federal welfare programs like SNAP.
Study shows support for Build Back Better proposals
Congress is still negotating the future of President Biden's Build Back Better bill, the $1.75 trillion spendingproposal which is designed to reinvent the American economy and society. The package will not get a single Republican vote, despite being broadly popular, so Biden must ensure that all 50 Democrats in the Senate stay on-side and vote for the final nill.
Why can my Social Security direct deposit be late?
To ensure benefits are distributed in a timely manner, the Social Security Administration (SSA) sends various batches throughout the month. Payments are meant to enter people's accounts on Wednesdays. However, the exact date on which the money reaches your account depends on your birthday.
This means that beneficiaries born earlier in the month, regardless of the specific month, will receive their payments before those who were born at the end of the month.
Less than a week to claim your Child Tax Credit payment
The IRS has sent out another reminder, urging families who have not yet received a Child Tax Credit payment to provide their details to the agency so they can issue payment. The vast majority of Amercans families are eligible to receive the monthly payments, but low-income households are required to provide their information separately.
Rep. Yarmuth slams Sen. McConnell
Senate Minority Leader Mitch McConnell said that he is “delighted” the House passed the Biden infrastructure bill. But Rep. John Yarmuth says Sen. McConnell “doesn’t care about being called hypocritical” because he knows he won’t be held accountable.
Good morning and welcome to AS USA's dedicated stimulus check live feed for Tuesday, 9 November 2021. President Biden remains intent on passing major legislation to help boost the nation's post-covid economic recovery.
Central to that will be the passage of the Build Back Better legislative agenda, which includes a Child Tax Credit extension, as well as the implementation of the bipartisan infrastructure bill.