The IRS has issued almost 167 million payments in the third round of direct stimulus aid, with another 1.8 million people this week in line to receive the $1,400 checks. But some lawmakers are pushing for a fourth round of stimulus aid that would effectively send recurring payments until the pandemic ends.
So far, the federal response to the economic crisis caused by the coronavirus pandemic has delivered $3,200 to each eligible adult: $1,200 via the Coronavirus Aid Relief and Economic Security Act in March 2020; $600 in a December relief measure; and $1,400 under the American Rescue Plan signed in March by President Joe Biden.
Despite that financial assistance, millions of Americans remain in financial distress, with about 4 in 10 people saying their income remains below its pre-pandemic levels, according to a survey from financial services firm TransUnion.
Nationwide, nearly 16 million people are receiving some form of jobless assistance. The unemployment rate stands at 6.1%, far higher than its pre-pandemic level of 3.5%, and jobless rates remain especially elevated in low-wage industries such as food services and hospitality. One in four Americans struggled to pay their household expenses in the previous week, according to a Center on Budget and Policy Priorities analysis of Census survey data from early May.
