Are You Going To Get A New Stimulus Check To Help With Inflation?

If you live in certain states, you may receive more stimulus money. 

The federal government is unlikely to authorize another round of stimulus checks anytime soon.

Payments issued by states are typically smaller than those approved by Congress in 2020 and 2021.

Any assistance may be appreciated by those struggling to cover the high cost of food, gas,

and utilities. However, some experts fear that stimulus payments will further boost consumer demand and inflation.

How Effective Were Covid Stimulus Checks?

As advance tax credits, stimulus checks helped consumers cover essential expenses during Covid shutdowns.

According to the Bureau of Labor Statistics, 66% of people who received a payment used 

the money for food, 28% for rent, and 23% for mortgages. The relief was effective 

due to a few features, such as its non-employee nature and refundable tax credits, 

which meant they didn't just reduce your tax bill, but could also be refunded.

"Treasury and IRS distributed a lot of money very quickly," according to James R. McTigue, 

Jr., director of tax policy and administration at the U.S. Government Accountability Office. 

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