In the year 2021, the US President Joe Biden had signed into law the COVID 19 Stimulus Bill, which was aimed at providing the eligible US families and/ or individuals with direct relief from the government, and at the same time help in saving the economy of the country. This was an important step as in the months after the US States had seen the start of COVID 19 pandemic, it was also seen that there was a rise in the costs which the general public had to pay when they needed the essential services/ goods.
The year when this COVID 19 Stimulus Package had been passed, there was a lot of excitement as it was seen that the bill was going to help with the issues of poverty, economic health, etc. in the country. With the help of the 117th US Congress, the bill was brought forward and finally signed by Biden on 11th March 2021, and after this, the bill was also called as the American Rescue Plan Act of 2021, or in other words popularly as, the American Rescue Plan. It was reported that this Stimulus Bill for the economic help had been signed, and it was going to bring out for the public a legislation which had been estimated to be about $1.9 trillion Stimulus Package.
American Rescue Plan Stimulus Checks 2024
The American Rescue Plan was passed in March 2021, but it was first presented in the month of January 2021 (14th January 2021), and as per the reports, the provisions which had made the bill so important targeted the members who were coming from either the low income/ moderate income families or individuals. The bill had included direct payments, child care subsidies expansion, the expansion of low income tax credits, health insurance, extended benefits for the people who were unemployed, rental assistance, and food stamps.
It was expected that these direct payments and expansion of credits would help with the boost of incomes of the poorest Americans by over $3000. Not only that, it was also expected that the bill would help by a third reduction in the poverty all over the US, if the bill was providing the support with increase in minimum wages at the same time. The bill had not been able to get any support from the Republicans in the beginning, but later the bill saw support from Republican mayors like Francis Suarez, Jerry Dyer, etc.
2024 Stimulus Check Overview
|American Rescue Plan
Stimulus Check Update 2024
The first round of Stimulus Payments had paid about $1200 in March 2020 to the eligible residents in the US, followed by the second round of the Stimulus Payments which had a payment of $600 with an extra $600 for the residents who have dependents with them. This second round was sent out for the eligible citizens in December 2020, and this was followed by the last round of these Stimulus Payment Checks which was sent out in March 2021 for an amount of about $1400 (for the couples this amount was about $2800).
There were eligibility conditions for the income limits, age limits, etc. for the individuals who wanted their payments, and this included single filers who made less than $75000, jointly filing but earning less than $150,000 were eligible, and those who were making up to $80,000 were going to receive partial payments. As of January, there is a big wait for the Federal US Government to send out another round of the Stimulus Checks, and not only that, it was seen in the recent weeks that there have been multiple posts on the social media which have mentioned a Fourth Stimulus Check in 2024.
Track Stimulus Payments Status
For those who have missed the original Stimulus Checks between 2020 and 2021, it is mentioned that they can still claim these payments by using the option of Recovery Rebate Credit for the year 2020 and 2021. As per the reports, the IRS has announced that there is not going to be a Fourth Stimulus Check which is coming at the end of this week or after, but for those who want financial help, there are other options for 2024:
- Child Tax Credit: There is a good news for the recipients of CTC, and it says that the CTC expansion is expected to return with the next year.
- Earned Income Tax Credit: A maximum of about $7430 can be claimed as the Earned Income Tax Credit by the eligible residents in the US.
It must be noted that the last date to file for the 2020 Recovery Rebate Credit is on 17th May 2024, and for the third Stimulus Check which was missed, the 2021 Recovery Rebate Credit is available if the eligible individual files for it latest by 15th April 2025.
Stimulus Check by Mail Schedule 2024
There are various support payments which are either pending or they have been sent out by the State Governments, but they have provided with lesser support than the Federal Stimulus Checks. For this reason, everyone who wants another Federal round of financial help, it has been announced by the IRS that the Stimulus Checks will not see another round in 2024 for now.
Not only that, there is a big expectation that 2024 is going to come with the support of the American Family Act which is going to be a refundable credit, and it will help in expanding the Child Support payments permanently as it was done during the Stimulus Packages by the US President Joe Biden.