A new Administration was inaugurated on Tuesday, January 3, 2023. Republicans took authority of the House of Representatives, while Democrats kept control of the Senate when both newly elected and incumbent members of Congress took the oath of office.
The main concern on many people’s minds now that the new Congress has taken office is if stimulus checks will be discussed during the ensuing legislative session. It’s crucial to think about the consequences of yesterday’s significant day if you’re hoping that the federal government would deposit more money into your bank account.
Will The 118th Congress Consider Stimulus Checks
Initially, support for stimulus cheques was nonpartisan. To make the initial direct payments during the peak of the pandemic, Democrats &Republicans voted together. However, as time passed, this consensus grew weaker. And shortly after taking office, President Joe Biden passed the American Rescue Plan Act into law, which had only received Democratic backing.
Democrats at the time held power in both the House of Representatives & the U.S. Senate, as well as the White House. The likelihood of a stimulus cheque decreased after the Democrats lost their majority in Congress and the Republicans gained control of the House after the new members were inaugurated on January 3. The likelihood that the Republican-controlled House of Representatives would support a 4th stimulus check or allow a bill permitting one to be put to a vote is extremely slim.
Shouldn’t Lose Hope
The current COVID-19 legislation offered eligible parents payments up to $3,600 per kid under the age of six and payments up to $3,000 per child between the ages of six and seventeen. Even though the Child Tax Credit was a top Democratic agenda, Republicans were not in favor of it explicitly.
However, some Republicans have said they think the present CTC system needs to be changed and that parents should get more direct assistance. There is still a hope that, now that the 118th Congress has convened, parents will at least receive some further assistance from Uncle Sam because this may be one of the few areas where the objectives of the left and right coincide reports Fool.
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