The economy continues to strive to revive and return millions of Americans to a more financially stable state as another year of pandemic existence draws to a close.
No one expects Washington to issue more stimulus payments, but while the crisis continues, many individuals are concerned about covering all of their monthly bills.
This article will look at some of the programs that are pouring money into Americans' bank accounts, ranging from financial aid for homeowners to government payments for eligible parents of children.
Technically, none of these payments count as a fourth stimulus check. But, in the end, the programs achieve the same outcome.
Grant for Farm and Food Workers
U.S. Agriculture Secretary Tom Vilsack announced a $700 million incentive program for farm and food workers in September. It involves a one-time $600 payment to farmworkers and the meatpacking staff in the U.S.. A portion of the $700 million, up to $20 million, will also go toward assisting grocery shop employees.
These additional payments, however, will not be made by the IRS. They will instead come from state agencies, non-profits, and tribal governments.
Stimulus Checks for Renters and Homeowners
There is a federal Homeowners Assistance Fund that homeowners should be aware of. Potential recipients of assistance must demonstrate financial hardship as a result of the pandemic.
In general, your income cannot exceed 80% of the median income in your area to qualify for this money. Other local criteria, such as income requirements, vary depending on where you live. And receivers of this money must demonstrate financial hardship as a result of the pandemic. More information can be found here.
Child Tax Credit
This is, without a doubt, the most significant effort of all the ones we'll discuss in this post. It has already transferred tens of billions of dollars to American families this year.
Two additional checks, out of a total of six, are expected to arrive before the end of the year. The next one is on Nov. 15. After that, on Dec. 15, there will be one final child tax credit check.
These payments provide a few hundred dollars to eligible families for each child who meets the benefit's criteria. Families will get either $300 or $250 depending on whether their child is under the age of six or between the ages of six and seventeen. Add up all six child tax credit checks, and you'll get the same amount as a tax credit next year for the recipient families.
