![]() Further, support for wide-scale student loan cancellation could wane as well if it’s no longer viewed as an economy necessity. As the economy improves, the president is less likely to extend the payment pause on student loans beyond September 30, 2021. The same holds true for student loan cancellation. As unemployment numbers drop, the stock market stabilizes, businesses reopen, consumer spending increases, and travel resumes, Congress and the president will be less likely to support further economic relief. For those hoping for more stimulus checks, an improving economy hurts chances for further direct economic payments. Having helped lead America’s economic resurgence after the 2008 financial crisis, Biden wants to help America heal from the Covid-19 pandemic. ![]() If the economy improves, the need for stimulus checks may declineīiden is focused on economic recovery. That said, the Senate parliamentarian has granted Democrats limited use of the budget reconciliation process before year end - but Democrats will be selective on which policy priorities to include, which may not include stimulus checks.ĥ. This includes any proposal for $2,000 stimulus checks, or even a fourth stimulus check. Joe Manchin (D-WV) said he won’t support any efforts to overturn the requirement of 60 votes to pass legislation in the Senate, which potentially could hamper Biden’s policy agenda and Democrats’ ability to pass legislation through budget reconciliation. This strengthens Republicans’ ability in the Senate to delay legislation proposed by Democrats. After weeks of debate, the filibuster won’t be going away any time soon. The Senate is split 50-50, and Vice President Kamala Harris has a tie-breaking vote. Filibuster rule hurts chances for another stimulus check This also makes it less likely that non-infrastructure spending provisions such as stimulus checks would likely be added.ĪDVERTISEMENT 4. The infrastructure package also already includes non-infrastructure spending (such as higher pay for healthcare workers), some of which Biden and congressional Democrats will need to amend to gain support for a final bill. While stimulus checks provide immediate cash, they don’t create jobs. Filers had to submit their 2021 state tax returns by October 17, however, so although your check may still be in the mail if you’re an Illinois resident, the period for you to file has. The infrastructure package is focused on job creation. ![]() While it’s possible that a fourth stimulus check could be added to the infrastructure package, it’s unlikely. Biden hasn’t indicated publicly that he supports any further stimulus checks, and he has not responded to Omar’s letter from January that urged him to support more stimulus checks. Unlike the last stimulus package, this new $2 trillion stimulus package does not include a stimulus check. Biden focused on infrastructure package, not stimulus checksīiden is focused on passing his proposed infrastructure package - the American Jobs Plan - in Congress. On the Form IL-1040 or IL-1040-PTR, enter zero "0" for Line 1 and follow the Instructions for the form.2.
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