Well, my fellow Americans the odds of there being a third stimulus are quite promising! Great news for people, who could use some extra money during this pandemic. I’m just happy the government is moving the process so quickly. You saw how long it took for the second stimulus package to roll out. There are many Americans, who have yet to receive the first or second stimulus. The goal of the article is to update you on the latest developments for the third stimulus.
It’s still surreal to know how many countries that have seen the Rona Pandemic come and go. Why is it that America, the land of the free and home of the brave, having such a hard time coming out of this viral setback?
Why is it so hard to pay the citizens of the ‘promise lands’, forced out of jobs an such, so they can sustain some financial normalcy? We ain’t gone do nothing, but put the money right back into the economy anyway. Scared money don’t make no money America!
How Much will the Third Stimulus be?
After the second stimulus payment in the amount of $600, Ex-President Trump was openly unimpressed and considered the amount to be low. He was the first to ask for an increase in the payment to $2000. Like most Americans, Joe Biden agreed with Trump in regards to the stimulus should be bigger.
President Biden is pushing for the $1400 stimulus to add to the $600 second stimulus received. However, there are republicans looking to change the total dollar amount provided in the stimulus to $1000 in effort to cut back on how much money is being spent overall by the government.
Who will be Eligible for the third stimulus?
The government hopes to target low income households with their stimulus payments. Honestly, we’re just glad to see a slight ounce of mercy for the American people. So many of us Americans are facing joblessness, homelessness, mental stress, or a combination of the three due to the pandemic of 2020.
There has been speculation that the third stimulus would be given only to those, who have gone through with or plan to complete vaccination. As of now, that seems to be false. There is no evidence supporting the claim. For the people, who choose to opt out of the Rona vaccine that does not strip you of your stimulus check.
In the second round of stimulus checks any single individual making less than $75,000 and a married couple making less than $150,000 a year was eligible. In this round, it can depend on which package is approved, but either way the threshold is less. Married couples, who made over $100,000 in 2020 and individual filers, who made over $50,000 should probably not expect a full stimulus. They would be lucky to get anything next round.
When Can I Expect to See the Third Stimulus?
As previously stated, there’s a slight debate between Republicans and Democrats in references to how much aid to actually provide to Americans this go around. A lot of people are speculating the next payment to go out late March. What I do know, is the already expanded unemployment benefits are set to expire March 14th. We recommend you prepare for worse case scenario if you are an individual or family benefit in from the Pandemic unemployment benefits.
You can expect it to be paid via direct deposit to the bank account provided on your 2020 tax return. If you did not use direct deposit as your payment for your 2020 tax return, you can expect a mailed check. Those using direct deposit will be paid out first, of course, same with the previous two stimulus payments.
Conclusion
The details of the third stimulate still being worked out. The bill is still making its way through the processes set forth by the government. One thing is for sure though, we can expect another stimulus within the next couple months. We also know an income threshold has been somewhat established and dependent on where a tax filer falls the granted payment amount can vary.
If you haven’t learned anything else during this pandemic, you should know the value of a dollar. Now more than ever, it is imperative to invest in yourself. This could help you avoid being completely dependent on the help of the government in your time of need.
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