THE Delta variant surge could mean stronger demand for a fourth stimulus check for Americans.
A personal finance writer for The Ascent by Motley Fool noted that Covid-19 infections are soaring and, with the CDC suggesting Americans should wear masks in public regardless of their vaccination status, more restrictions that could harm the economy might be on the way.
When non-essential businesses had to close down or scale back at the start of the pandemic, millions of Americans lost their jobs, and stimulus checks were a lifeline.
If more restrictions are put in place to try to slow the spread of the Delta variant, more jobless claims could follow.
In the past week, 400,000 new jobless claims were filed, the outlet reported. The previous week, there were 424,000 new claims.
“This is in contrast to many weeks where claims were steadily coming in at under 400,000,” Maurie Backman wrote.
“If weekly jobless claims continue to rise, or don’t fall, it could prompt lawmakers to rethink their stance on giving out more aid.”
So far, the White House and Congress as a whole have not gotten behind a firm stance on sending out more stimulus relief payments.
There also aren’t plans to extend pandemic unemployment benefits beyond their expiration date in early September, just about a month away.
But if the Delta variant continues to wreak havoc across the United States, elected officials might have to consider continuing expanded unemployment benefits for Americans who haven’t gone back to work or those who might lose their jobs in the economic aftermath.
Stimulus checks could also help people who remain employed but may become more hesitant to go out and stimulate the economy in the wake of the Covid-19 infection surge.
More than 2,716,000 people have signed a Change.org petition that was started last year by Denver-based restaurant owner Stephanie Bonin asking for a fourth stimulus payment.
The petition, which is nearing its goal of three million signatures, calls for $2,000 monthly payments for adults and $1,000 for children until the pandemic’s end.
There are five other petitions calling for similar measures, and while no official decision has been made yet, it’s something elected officials may need to start considering soon.
