Fourth Stimulus Check Unlikely to Arrive, State-Level Financial Assistance Being Offered

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Despite the fact that a fourth stimulus check from the federal government is uncertain, state governments around the country are coming up with creative ways to support their citizens through Universal Basic Income. Because the quantity of aid delivered varies by state, the resources below may be useful in learning more about the present situation in each region and when assistance is expected.

Universal Basic Income

Universal Basic Income is a government scheme in which every adult citizen receives a fixed amount of money regularly. A basic income system’s goals are to reduce poverty and replace current need-based social programs that may need more bureaucratic engagement. As automation replaces workers in manufacturing and other sectors of the economy, the idea of basic universal income has gained traction in the United States.

According to MSN, this type of initiative is becoming more common in the United States. Cities of various sizes have begun to give money away as part of such “basic income” schemes. Qualifying young people will receive $350 per month for ten months as a financial literacy program. Members who are unemployed or out of school are targeted for the program. They’re all under the age of 24 and at least 16 years old.

Child Tax Credit, SS Payment Adjustments

The COVID-19 virus, as well as the responses to it, continue to cause economic problems in the United States and around the world, leading governments to provide financial support to individuals and families in need. Some new stimulus checks are coming in April and another Child Tax Credit payment of up to $1,800, while we go over the other perks and the adjustments to COLA and Medicare below.

The Senior Citizens League (TSCL) has been lobbying Congress for another one-time Social Security stimulus payment of $1,400 for seniors since the beginning of 2022. This is due to the current ambiguity in the United States, which has arisen due to an increase in COVID-19 infections with the introduction of the new Omicron form. The payment would essentially act as a fourth stimulus check, Marca posted.

Read More:

Facts on the Fiscal Stimulus for 2021; Financial Assistance in the Event of a Pandemic

IRS Understaffed, Expect Complicated Tax Returns