Many people are asking if another stimulus check is coming after the election of former President Donald Trump. He will take over the White House in January. Trump has already issued two during his first term in office.
Millions of Americans depended on economic impact payments, also known popularly as stimulus checks. During the peak of the coronavirus (COVID-19) pandemic, the federal government supported people to help them make ends meet when many were laid off.
As required by the American Rescue Plan Act, the Internal Revenue Service (IRS) under President Joe Biden made the last payments in 2021 in the form of $1,400 cheques.
The government made approximately 476 million payments throughout the pandemic, which came to almost $814 billion.The U.S. economy isn’t nearly as terrible as it was in the early 2020s, according to economists, despite the fact that many Americans believe the economy is struggling, with some attributing this to the pandemic’s high inflation.
Trump administration considering "sending checks to Americans immediately," FinMin Mnuchin says. Seeks $850bn stimulus combined with House bill. Is mulling delaying tax payments. Dow rallies 900 points as White House details plans to combat econ slowdown from coronavirus. pic.twitter.com/Z4scr4ABqe
— Holger Zschaepitz (@Schuldensuehner) March 17, 2020
Is Trump able to initiate a stimulus check?
Some consumers might assume that Trump or Biden was just in charge of issuing stimulus checks. It is possible because Trump signed the memo line of the first check. The payments were a component of three bills that Congress passed. They subsequently forwarded them to the president for his signature.
“A president can’t simply issue stimulus checks, and the ones sent out during his last administration were largely the result of a push from Democrats in the House and Senate,” Channel stated. “Though Trump ultimately did sign the bill that sent stimulus checks to Americans, he isn’t solely responsible for them.”
After Congress approved and Trump and Biden signed the legislation, the IRS issued the three rounds of pandemic stimulus cheques. In other words, the IRS will not be issuing stimulus payments in 2024 unless Congress authorizes it.
There isn’t any stimulus expenditure legislation in the works right now. It is also highly unlikely that lawmakers will pass any by 2025. Rather, experts predict that Trump and Republican senators will concentrate on tax legislation. It is to extend the tax cuts in his 2017 Tax Cuts & Jobs Act, with other budget issues.
Related Stories:
Fourth Stimulus Check In 2023: Is The Federal Government Issuing and Payment?
Stimulus 2023: Biden Hints Some Americans Could Still Receive Stimulus Fundings
New Congress Sworn in: What Are The Chances Of New Stimulus Checks?
Stimulus check update: 90K N.J. residents could lose health coverage if Congress fails to act
Stimulus Checks 2022: You have just one week to claim a stimulus check worth up to $1,200 – how to get your money
$2,000 Stimulus Checks: Petition Hits 3 Million Signatures – Forbes
Stimulus Checks 2023: Biden’s Tweet Could Be Hint For More Stimulus Money
Leave a Reply