Is there going to be a fourth stimulus check? Here's everything you need to know
President Joe Biden has yet to approve another round of stimulus money,
But there have been calls to make it happen. Under the third round package,
The Internal Revenue Service (IRS) issued more than 175 million stimulus checks worth $400 billion by December 2021.
According to a report from LendingClub, 64% of Americans are now living paycheck-to-paycheck due to inflation.
Aside from that, hourly wages aren't keeping pace with inflation, which is currently at 9.1%.
Inflation has outpaced wage growth over the past year, according to Bankrate senior economic analyst Mark Hamrick.
Increasing prices are indeed taking over consumers' minds.
As corporate Democratic Senator Joe Manchin of West Virginia has opposed
President Biden's economic agenda, another stimulus check seems unlikely.
CNBC reports that Machin raised nearly $300,000 in contributions from executives and
company political action committees just a few days after killing the president's
$1.75 trillion spending bill. Manchin, however, has agreed to a scaled-down $700billion deal
that includes climate change action but excludes direct payments.
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