Fourth stimulus check rumors are still all over the place, though we’ve been pretty clear that all signs point to one not happening this year. Read our earlier post, here, for a deeper dive into why we think this is the case.
When it comes to all things stimmy, however, it’s never over until the fat lady sings. Or, rather, until the politicians involved decide to move on to the next thing. Remember: Stimulus checks from the third wave of payments are still being sent out now. And an all-new, 6-month series of quasi-stimulus checks are set to begin July 15. However, there’s also one extra detail worth adding to any discussion around a fourth stimulus payment.
Fourth stimulus check: Update
A Change.org petition calling for recurring, $2,000/month stimulus checks has garnered more than 2.45 million signatures as of the time of this writing. That petition, in fact, is now on its way toward an attempt at 3 million signatures. “It took nine months for Congress to send a second stimulus check, and just moments to spend it,” the petition reads. “Moving forward, Congress needs to make recurring checks automatic if certain triggers are met.”
And here’s the thing: People apparently want this check so badly, that the petition seems to have gained some 50,000 more signatures in just one week. “I’m calling on Congress to support families with a $2,000 payment for adults and a $1,000 payment for kids immediately,” the petition continues. “And continuing regular checks for the duration of the crisis.”
Denver restaurant owner Stephanie Bonin launched the petition last year. And, obviously, the stimulus landscape has changed significantly since then, even though she remains resolute in her wishes.
As a reminder of what stands between now and a possible fourth stimulus check, there are two things to know.
President Biden signed a $1.9 trillion stimulus package into law in March. This is what funded a third round of stimulus checks, generally for $1,400. To date, the IRS has distributed more than 163 million of those payments (totaling about $390 billion, altogether). And if you’re still waiting on yours, don’t worry. The tax agency says it’s continuing to distribute them on a weekly basis.
Meantime, new stimulus checks tied to an expansion of the federal child tax credit are about to begin.
Between now and the end of December, checks for generally up to either $250 or $300 (multiplied by the number of eligible children) will arrive. One check, that is, per month. It stems from the following benefit being available to families, per the child tax credit: You can get $3,600 per qualifying child under age 6. And $3,000 for kids between 6 and 17.
Half of that amount will come next year, in the form of a tax credit. You get the rest, split between the six monthly checks.