Fourth Stimulus Check Update: Biden’s Plan For More Payments In 2022

President Joe Biden has not been having much luck with getting his Build Back Better plan approved by Congress thanks to Moderate Democrats like Sen. Joe Manchin (D-W. Va.), who have opposed the price tag from the beginning, leading to several promises and key policies being dropped. However, one way the President may be able to guarantee some help to Americans is by getting a version of the bill that allows for a form of stimulus payment to still be paid out in 2022.

The new plan, which was cut from a $3 trillion package to become a $1.75 trillion one, cut out several programs, including paid family leave, free community college, dental and vision Medicare coverage and lower prescription drug prices. Programs like money to tackle the climate crisis, expand Medicare benefits, provide universal pre-K and other benefits were then added or kept. One provision which was modified was the expanded Child Tax Credits, which initially were supposed to be expanded until 2025, but currently only have a one-year extension.

The credits involve direct cash payments to parents on a monthly basis, with $300 deposited for each child under the age of 6 and $250 deposited for each child between the ages of 6-17. With the one-year extension, that means payments will continue to be made to parents on a monthly basis through the end of 2022.

While a one-year extension isn’t the same as the calls to make the payment permanent, it will mean that a form of stimulus aid is coming to some in the new year, which will also be good news to families who have benefited from the extra cash. Overall, federal stimulus checks have caused a decline in the supplemental poverty rate from 11.8% to 9.1% and decreased financial instability by 43% and household food shortages by 42%.

With increasing inflation and many pandemic-fueled economic aids now over, many have continued to worry about a lack of aid leading to the poorest of Americans once again falling behind when it comes to their necessary expenses, like utilities, food and housing.