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Is this the last stimulus check?

Stimulus Check
Posted at 4:25 PM, Mar 09, 2021
and last updated 2021-03-09 16:26:30-05

WASHINGTON — Even though the third stimulus check hasn't even been signed into law yet, questions are emerging about a potential fourth stimulus check.

WHAT IS COMING

After House Democrats approve the American Rescue Plan on Wednesday, as is expected, President Joe Biden will sign the legislation shortly thereafter.

The last time stimulus checks went out, the IRS began depositing checks into some accounts within days.

This time, it isn't expected to be as quick, with the IRS having to factor in tax season and a new administration, but the expectation is that checks will be in accounts within two weeks.

For Americans making under $75,000 a year, a full $1,400 stimulus check will be given. For those earning between $75,000-$80,000 a year, a prorated amount will be given.

If you earn over $80,000 a year, you will get nothing in this bill.

The IRS uses your adjusted gross income on your latest tax return to determine eligibility.

ODDS ARE SLIM FOR ANOTHER ONE

While you may be getting another stimulus check, you shouldn't bank on a fourth stimulus check.

While some progressives would like to see more relief, politics around the issue will likely get complicated.

When asked about another round potentially, Speaker Nancy Pelosi said Tuesday, "You'll have to ask the virus."

One big reason a fourth stimulus check will struggle to gain support initially is because of Senate rules.

The third stimulus check only passed the Senate because of reconciliation.

Congress is limited under current rules with how many times they can use this process each year.

Senators may be more willing to use it on an infrastructure bill as opposed to another stimulus check, which failed to get any Republican votes.

Congress also isn't up against any deadlines for a while. This round of relief passed the Senate, in part, because of unemployment benefits expiring on March 14.

Unemployment benefits won't expire again until September 6.

The economy will also play a key role. With more Americans getting vaccinated and cases going down, the expectation is the economy will rebound again soon.

So while a fourth check is possible, for the moment, it isn't likely.