Experts are asking for extra monthly help or another round of stimulus checks as concerns about all aid running out grow or soon to be expired.
Federal Programs that are Soon To Expire
In a recently published article in iBTimes, with many government initiatives put in place to fight the financial difficulties of the COVID-19 pandemic either expiring or on the brink of terminating shortly, many are concerned about what this might imply for millions of Americans who are still in terrible financial circumstances and straits.
In addition to unemployment benefits and an eviction moratorium that has now expired, some are concerned that the Expanded Child Tax Credit, which began depositing funds into accounts in July and is set to end in December, may also expire if Congress does not approve plans to extend it to 2025 as part of Joe Biden’s current reconciliation package.
The payments, which give parents an additional $300 every month per child under the age of six and $250 every month per child ages six to seventeen, have been helpful to families who are still suffering from the pandemic, and experts say that because Americans are still expected to pay their bills on a monthly basis, assistance on a monthly basis should still be considered, according to a report published in Marca.
View From Expert With Corresponding Data
Natalie Foster, the co-chair of the Economic Security Project, said “The bills come monthly, and so should the stimulus checks. We know that these first two checks have really impacted families in a meaningful way.”
Census statistics from the Senate Joint Economic Committee backed up Foster’s claims, revealing that food insecurity decreased from 11 percent to 8.4 percent after those payments were paid. The results are not unexpected, given that the first stimulus payments for individuals were also shown to have a substantial effect on families experiencing financial difficulty.
Earlier this year, studies showed that following the $600 check in December 2020 and the $1,400 check in March 2021, financial instability reduced by 43 percent, while food shortages in families decreased by 42 percent. Anxiety and sadness related to financial concerns decreased by more than 20 percent, according to a report published in Fingerlakes.
With growing worries about the Delta Variant pushing up cases and an increasing number of Americans advocating for $2000 monthly stabilizing payments, there is still optimism that the Biden Administration or Congress will come through with additional money for Americans. With demands for payments to particular groups such as Senior Citizens and others on the rise, the time may soon come for some other kind of support to be requested.