Many Americans were dismayed as the year 2021 ended without a fourth stimulus cheque in their accounts. Will a new year, however, bring with it a fresh windfall?
There are currently no indications that Congress will issue another stimulus package. However, this does not rule out the possibility. This is why another stimulus payment may or may not be forthcoming, reports USToday.
Why A Fourth Stimulus Check Might Be Necessary?
The highly transmissible omicron variation is driving an increase in COVID-19 cases in 2022. By the end of January, health experts believe the instances will have died down. But if that doesn’t happen and the outbreak continues, we might be looking at months of chaos.
Businesses may be forced to close down as a result of this circumstance, resulting in layoffs. If that happens, and the economy continues to deteriorate, another stimulus payment could be justified.
Why Is It Possible That There Won’t Be A Fourth Stimulus Check?
True, the United States is in the midst of a severe COVID-19 outbreak, which threatens to overwhelm healthcare systems, force schools to use remote learning, and disrupt supply lines. The silver lining is that omicron is thought to cause milder illness than its predecessors, implying that it will be less disruptive.
Furthermore, the Centers for Disease Control and Prevention (CDC) has amended its guidelines to reduce the time of quarantine for people who have been diagnosed with COVID-19.
It’s possible that a few workplace disruptions and closures may occur as a result of this.
For our economy, all of this would be beneficial. In terms of the economy, things are still looking up. The national unemployment rate fell to 3.9 percent in December, the lowest since the pandemic began. Furthermore, the labour market is currently overburdened with openings, to the point where many businesses are hiking wages to attract top personnel. This is not the same situation that was provided when the most recent stimulus check was authorised, in March 2021.
Finally, unlike earlier in the pandemic, lawmakers are not planning large-scale shutdowns to battle the current COVID-19 outbreak. This could be enough to avert a big layoff wave.