Inflation and Unemployment Rates: Will There Be a Fourth Stimulus Payment?
By With inflation continuing to rise, many Americans are struggling to make ends meet and pay for necessities.[0] To help provide financial relief, state governments with budget surpluses have been offering citizens tax rebates and other forms of aid.[1] In California, rebates may range from $200 to $1,050, while Connecticut offers employees who worked throughout the pandemic bonuses ranging from $200 to $1,000.[1]
To provide further aid during the pandemic, the US government has issued three stimulus payments, with the last one arriving in February 2021.[2] This financial relief helped pull 11.7 million people out of poverty in 2020 alone.[2] Despite recent declines in inflation, many Americans are still hoping for a fourth stimulus payment in 2023.[3]
If unemployment begins to rise, Congress may intervene and offer additional stimulus aid to those who are out of work.[3] During the pandemic, Congress increased unemployment benefits and expanded eligibility, helping thousands of people.[3]
The current state of inflation and unemployment is far from ideal, and many Americans need the additional financial assistance that stimulus payments provide.[3] With Congress not yet announcing plans for a fourth payment, those who are hoping for further aid should continue to monitor the situation to see if it materializes in the coming months.[3]
0. “Stimulus Check Update: These 3 Numbers Tell You All You Need to Know to Find Out if Another Stimulus Check Is …” The Motley Fool, 6 Feb. 2023, https://www.fool.com/the-ascent/personal-finance/articles/stimulus-check-update-these-3-numbers-tell-you-all-you-need-to-know-to-find-out-if-another-stimulus-check-is-coming-in-2023/
1. “4th stimulus check update 2023 — ‘Inflation relief’ payments up to $1,050 go out by Valentine’s Day – see i…” The US Sun, 7 Feb. 2023, https://www.the-sun.com/money/7329608/4th-stimulus-check-2023-irs-california-live-blog/
2. “Are Stimulus or Relief Payments Taxable?” AOL, 10 Feb. 2023, https://www.aol.com/stimulus-relief-payments-taxable-120019456.html
3. “Stimulus Update 2023: Check Whether Another Payout Is Coming For Americans” PanAsiaBiz, 10 Feb. 2023, https://www.panasiabiz.com/53728/stimulus-update-2023-check-whether-another-payout-is-coming-for-americans/
