NEARLY $ 2 billion in stimulus money went undrawn in the US as tight-budget American families urge the White House to introduce another round of payments.
Households have received three rounds of checks since the pandemic began, but another stimulus payment seems unlikely as Joe Biden appears hesitant.
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According to research, nearly $ 2 billion in stimulus money was undrawn during the first round of checksPhoto credit: Getty
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The revelations come as Biden remains under pressure to introduce a fourth round of stimulus checks for insolvent Americans.Credit: AP
Americans failed to cash more than 1.3 million first-round checks issued under Trump’s presidency, a KDVR investigation found.
This equates to unclaimed stimulus payments worth $ 1.77 billion.
California had the most unclaimed checks at 130,243, while Florida and Texas followed with 96,342 and 96,918, respectively.
Residents in California, Florida, Texas, New York, and Pennsylvania were unable to cash over $ 650 million in stimulus payments.
The revelations come as many Americans are still grappling with financial hardship due to the Covid-19 pandemic.
According to a survey conducted by TransUnion, four in ten Americans say their incomes remain below pre-pandemic levels.
There are increasing calls for additional payments from the American public.
Read our stimulus checks live blog for the latest updates on Covid-19 help …
A petition from Change.org urging recurring checks worth up to $ 2,000 a month has received more than 2.5 million signatures.
Colorado restaurant owner Stephanie Bonin has set herself a goal of three million signatures.
The petition calls on Congress to provide payments of $ 2,000 per adult and $ 1,000 per child.
It is said that payments are required on a regular basis as American families still struggle to pay rent and bring food to the table.
The petition notes that some families without additional stimulus funds are “struggling deeply”.
Households have received three rounds of stimulus payments since the pandemic began, but Biden has yet to commit to one more round.
The number of “long-term unemployed” Americans rose 233,000 to four million in June after falling by more than 430,000 in May, reports AS.
This refers to people who have been unemployed for at least 27 weeks.
‘GIVE THE AMERICANS ASSURANCE’
The unemployment rate is 5.9 percent as 850,000 jobs were created in June. It was basically unchanged.
A fourth stimulus check was not suggested by Joe Biden, but the door was not slammed all the way.
However, Democratic lawmakers have called for additional payments to be introduced to ease the burden of money buckles on Americans.
In a letter to Biden over the past few months, seven House Ways and Means Committee Democrats expressed support for another round of economic reviews.
The legislature wrote: “The pandemic has strongly reminded us that families and workers need certainty in a crisis.
“They deserve to know that they can put food on the table and have a roof over their heads. They shouldn’t be exposed to the constantly changing legal deadlines and ad hoc solutions.”
More than 20 Democratic senators sent a letter in March asking Biden to waive recurring payments.
But despite the requests for extra cash, economists don’t seem convinced.
Raymond James’ Ed Mills told CNBC, “I think it’s unlikely right now.”
And economist Yeva Nersisyan told CBS that the White House should look at how the economy performs before introducing another round of payments.
You may not receive another Stimulus Check – but you could get a new payment starting July 2021
