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In the Next Weeks, Millions of Americans Will Get Further Stimulus Checks | Complete Info

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In 2022, there will be no more stimulus checks, and the child tax credit will be phased out. According to abc7.com, there is a slim chance that lawmakers will opt for a scaled-down version that would provide more assistance to struggling Americans.

It’s also time for US citizens to file their federal tax returns, and there are a few changes to be aware of, including steps to take regarding child tax credit payments.

Will Us Citizens Be Doomed Without Stimulus Checks for the Third Year of Covid?

As the COVID pandemic enters its third year, US citizens are seeing a steady reduction in federal aid. There will be no more increased unemployment benefits or guaranteed paid sick leave programs, and no more stimulus checks. Earlier this month, the final round of expanded child tax credit benefits was sent out. In addition, after several extensions, the deferment of student loan payments is set to end in May.

Stimulus

Due to the rapid spread of the Omicron variant of the Coronavirus, the start of 2022 appears to be bleak. The surge is expected to last at least a week, according to experts, and economists have already begun to lower their economic forecasts for the coming year.

Flight cancellations have been common this holiday season, as have restaurant slowdowns and Broadway show cancellations. Unfortunately, the increase in Omicron cases could not have come at a more inconvenient time.

Omicron Is Contagious, but the Mortality Rate Is Low

There is, however, the light at the end of the tunnel. Although the Omicron is highly contagious, it does not cause serious illness or mortality. It’s possible that this is due to the fact that vaccination is pretty common and a large percentage of the population has been vaccinated. Furthermore, prior to the Omicron strain’s arrival, the unemployment rate in the United States plummeted to 4.2 percent in November, a new pandemic-era low.

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Though President Biden’s much-touted Build Back Better proposal has run into opposition from West Virginia’s moderate Democratic Senator Joe Manchin, a watered-down version of the measure is likely.

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