KEY POINTS

  • Google searches for a fourth round of payments increased by 2,750%
  • A new analysis found that 6 in 10 Americans say the $1,400 checks won't last long
  • Wall Street analysts believe another round of payments is unlikely

Google searches for a fourth economic relief payment surged on Thursday, an indication that many Americans are counting on President Joe Biden to include another round of stimulus checks as part of his upcoming infrastructure bill. 

The increase in people searching for signs that more "stimulus" will arrive comes after a third round of economic impact payments, either from checks or direct deposits, reached American families and individuals beginning in mid-March.  

Searches for “4th stimulus check confirmed” increased by 2,750% last week and searches for a fifth check surged by 900%, Google said

But there has yet to be solid evidence that Biden, who is now promoting his $2.3 trillion Build Back Better package, is considering another round of relief payments. 

On March 30, a group of 50 Democratic House members and 21 Democratic senators signed letters calling on Biden to pass a measure that provides recurring payments to Americans, arguing that the third stimulus payment distributed by the IRS won’t last long enough.

“Almost 6 in 10 people say the $1,400 payments set to be included in the rescue package will last them less than three months,” the senators wrote in one of the letters. 

“This crisis is far from over, and families deserve certainty that they can put food on the table and keep a roof over their heads. Families should not be at the mercy of constantly shifting legislative timelines and ad hoc solutions,” the letter continued. 

A new analysis from the Federal Reserve Bank of New York suggests Americans used money from the stimulus checks to pay off debts accumulated during the COVID-19 lockdowns. 

A new Bankrate.com survey found that 61% of Americans who received their third relief payments believe the $1,400 amount won’t be enough to sustain their financial well-being for more than three months. 

The survey also found that 45% of the recipients said the check went toward paying monthly bills, 36% said it paid for daily necessities and 32% said it used to pay down outstanding debt. 

“Stimulus continues to be a bit of a misnomer, with households predominantly using the money to pay monthly bills and provide day-to-day essentials,” Greg McBride, CFA, Bankrate chief financial analyst, said. 

Wall Street analysts, including Raymond James managing director Ed Mills, doubt a fourth check will come to fruition as the Biden administration focuses on its $2 trillion infrastructure plan. 

“I think it’s unlikely at this time,” Mills told CNBC. “D.C. has largely started to pivot towards the recovery and an infrastructure bill.”

Stimulus Checks Economic stimulus checks are prepared for printing at the Philadelphia Financial Center May 8, 2008 in Philadelphia, Pennsylvania. One hundred and thirty million households are eligible to receive a tax rebate check under the $168 billion economic stimulus plan. Photo: Jeff Fusco/Getty Images