Many of us have spent the last of those $1,400 stimulus checks that arrived earlier this spring. So, will there be a fourth stimulus soon? Or was that all there is?
Just like a morning cup of coffee, Americans are getting used to those "stimmy checks," as they are now sometimes called.
Individuals earning less than $75,000 a year took in:
- $1,200 in the spring of 2020
- $600 in January 2021
- $1,400 in March 2021
Congress has talked about possibly providing a fourth check in the upcoming infrastructure stimulus package, but so far it has not made any progress.
In the meantime, more than 2 million people have signed a Change.org petition asking for recurring $2,000 stimulus checks.
Don't laugh. It's not completely far-fetched: 21 Democrats in Congress have signed a letter asking for recurring payments.
But many small business owners and the U.S. Chamber of Commerce claim all the free money showing up in checking accounts (along with extended unemployment payments) makes people not want to work and may be partly responsible for the labor shortage this year.
President Joe Biden's thin majority in the U.S. Senate, meanwhile, does not appear to have the votes right now for another round of checks, according to the latest report from Yahoo Finance.
YouTubers cash in
But from the "doesn't that stink" file is all the YouTubers cashing in on a fourth stimulus check. They're not getting one — they're just speculating about whether there will be one, and they're collecting ad and sponsorship money while they do it.
Dozens are posting stimulus check videos every few days and making more money from speculating than they ever would from stimulus checks.
According to Business Insider, some of these YouTubers are earning thousands of dollars just guessing if there will be more checks.
The king of these videos is "It's Jimmy," with more than 300,000 YouTube subscribers watching his almost daily stimulus check updates.
Consolation for many parents
But although another round of $1,400 or $2,000 checks may not happen, there is one consolation for tens of millions of American parents.
The IRS in July will start sending out monthly $300 Child Tax Credit checks to most families with children, as it diverts what had been a once-a-year tax credit to monthly checks, at least through the end of this year.
You can bet the YouTubers will be making hundreds of videos, and earning thousands of dollars more, from those child checks.
As always, don't waste your money.
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