Federal and state legislators seek a fourth stimulus check to keep the economy moving forward, even as governors like Greg Abbot try to undermine and exacerbate inflation fears by slowing the supply chain across the southern border.
Hundreds of thousands of low-income families, students, and working-class Americans got billions in federal aid.
Vice President Joe Biden’s administration has established new goals for creating jobs and reducing the debt left over from the previous administration. Click here to learn more about Joe Biden.
Many Americans are still feeling the effects of the high cost of living, despite the recent drop in oil prices.
Fourth, the stimulus payouts are significantly less generous than those offered by Biden’s administration. On the other hand, the purpose is simple: to reduce the impact of inflation.
According to experts, Americans who live paycheck to paycheck require a new assistance program to help them cope with inflation.
This is what it looks like when a Republican governor sabotages supply chains in order to hurt a sitting Democratic president. pic.twitter.com/R3BulX1WtQ
— No Lie with Brian Tyler Cohen (@NoLieWithBTC) April 14, 2022
According to Kelly of JPMorgan Funds, “the IRS says these payments amounted to around $15 billion each month. Their abrupt cessation might limit growing expenditure on food and other household staples.”
However, Vice President Joe Biden’s administration does not expect to distribute a fourth stimulus payment. To put it another way, the “cause of inflation has been an increase of demand fueled by fiscal stimulus,” according to Commonwealth Financial Network’s chief investment officer, Brad McMillan.
However, local governments implement special programs and checks to counteract growing gasoline costs.
This is inflation. Higher prices at the grocery store. A supply chain crisis that is killing businesses along the border.
This is what Greg Abbott is doing to Texas. pic.twitter.com/tvYvAZfAZd
— Beto O’Rourke (@BetoORourke) April 12, 2022
For example, in New Mexico, the state pays out money to every taxpayer who has already filed their tax returns to help offset rising gas prices.
Senior international economist Andrew Patterson of Vanguard offers solutions like gas cards or disbursements based on a person’s income level to lessen the burden of rising prices on a particular group or industry.