Will There Be Stimulus Checks in 2024?
person holding stimulus check envelop outside_iStock-1317449737
When COVID-19 struck and the world was sent reeling into full blown pandemic, the global economy went haywire. Businesses shut down for weeks, the GDP sharply fell and millions of Americans found themselves suddenly unable to come up with rent.
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To help mitigate the toll and enable those in a pandemic-related financial crisis to make ends meet, the government rolled out stimulus relief payments. Spanning three installments, more than 476 million payments totaling $814 billion in financial aid went out.
Now, with the pandemic largely in hindsight, the economy has significantly improved — but that doesn’t mean Americans aren’t still feeling the impact of all that it damaged. Last March, Business Insider reported that the liquid assets of the lower 80% of American households, based on income, were below where they were in March 2020, when COVID-19 struck the U.S. Inflation, which spiked during the pandemic, continues to hang over our heads and wallets.
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Years After the Pandemic, People Are Still Feeling the Blow
With so much financial despair in the air, people are asking, “Will we get another stimulus check in 2024?” Good question.
Near the end of 2023 and into the new year, a spell of misinformation manifested online about the future of stimulus payments. One particular rumor that gained steam last November indicated that a fourth round of stimulus funds would automatically be sent out to older or disabled residents in 10 states on the 30th of the month. The viral mistruth got to be so massive that AARP addressed it head on in an article last February.
The title of that article, penned by Andy Markowitz, AARP contributing editor and writer, read, “No, Social Security Beneficiaries Are Not Getting a Fourth Stimulus Check.” So, that answers that question — but the article takes a deeper look at the prospect of any kind of fourth stimulus check in 2024 and comes to the same conclusion: Nothing more is coming. At least, not as far as we can presently tell.
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The Government Says the Funds Are Done
”We’ve paid out all the Economic Impact Payments,” IRS spokesman Anthony Burke said, as cited by AARP.
It’s not the answer you may have hoped for, but at least you can now carry on with your life and tap into other ways to generate income and get back on your financial footing.
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This article originally appeared on GOBankingRates.com: Will There Be Stimulus Checks in 2024?