There are rumors going around that the federal government will give people a fourth stimulus check in 2024. Yet, these stories are only that—rumors. Don’t think that there will be a fourth stimulus check in 2024.
Speculations surrounding a potential fourth stimulus check have been debunked by recent reports. Despite ongoing discussions and concerns about financial struggles among some individuals, the federal government has made it clear that there are no plans for another round of stimulus payments in 2024.
The Internal Revenue Service (IRS) and the US Department of Treasury websites also provide no indication of an upcoming fourth payment.
An IRS spokesperson confirmed in November that there are no additional stimulus payments scheduled for the future.
To initiate a fourth stimulus check, Congress would need to pass legislation, and President Biden would have to sign the authorization into law. However, current legislative agendas do not include plans for additional stimulus checks.
Stimulus Check Controversy
The primary focus in Congress revolves around addressing issues such as border security funding and aid to Ukraine.
Reflecting on the previous three stimulus checks, which were issued as part of the CARES Act and the American Rescue Plan, controversies arose due to the distribution methods and perceived shortcomings.
The first two checks, totaling $1,200 and $600, were signed by then-President Trump, with the third check, amounting to $1,400, issued under President Biden’s American Rescue Plan.
Despite campaign promises of a $2,000 stimulus check, the final amount fell short, leading to disappointment among some Americans.
The stimulus checks were also scrutinized for their alleged association with rising inflation, although experts debate the extent of their impact on economic trends.
With the economy showing signs of improvement, policymakers are shifting their focus towards sustainable growth rather than immediate financial infusions.
The conversation around universal basic income (UBI), popularized by Andrew Yang in 2020, has somewhat faded from mainstream discourse, leaving the future of UBI uncertain and controversial.
